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2020-01-23 / Strategic Partnerships

Hero Future Energies - a leading cleantech company

“Through strategic partnerships, Hero Future Energies, a leading cleantech company, is committed to finding green solutions to the world’s energy needs”- Naveen Khandelwal, Chief Investment & Strategy Officer, Hero Future Energies

Looking back: Our journey began in the year 2012, and our first wind project in India was commissioned in March 2013. It was a team of few focussed individuals out to make a mark for themselves in a niche as well as naïve industry.

In the year 2015, we were the first Indian Infrastructure company to issue climate bond certified by the Climate Bonds Initiative Standards Board, an international, investor-focused not-for-profit organisation.

About Climate bonds: They are green bonds which require mandatory independent third-party verification to provide additional assurance to investors about the climate benefit of their investments. The Climate Bonds Initiative, which is an international, investor-focused not-for-profit organisation, issues this certification.


The Hindu reported it as
– [Hero Future Energies, a Hero Group firm that focuses on solar and wind projects, has raised about USD 44 million (Rs.300) crore by issuing certified climate bonds for expanding its wind power business. “This is one of the most cost-effective ways of raising capital now. These are basically zero-coupon bonds and you get a reasonable tenure. Since these bonds are certified for use of proceeds for green energy projects, you get lot of investors who are willing to invest in such instruments,”- Sunil Jain, CEO of Hero Future Energies]

Read more at https://www.herofutureenergies.com/newsroom/hero-future-energies-issues-first-certified-climate-bonds-in-india


In the year 2017, we partnered with IFC and IFC Global Infrastructure Fund, for an investment of $125 million in equity.

About IFC: IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. IFC is a pioneer in renewable energy in India, investing in the sector since 2009.

Mengistu Alemayehu, Regional Director, IFC South Asia said – ["With this partnership with Hero Future Energies, IFC is helping accelerate the transition of the renewable energy generation business to mainstream power sector. Through the Global Infrastructure Fund, IFC is also bringing in the support of international institutional investors. Such a development will boost confidence of other large business groups and international investors to contribute to India's ambitious renewable energy targets and make a significant difference in ramping up renewable-energy capacity in the country." ]

Read more at https://www.herofutureenergies.com/newsroom/hero-future-energies-issues-first-certified-climate-bonds-in-india


Year 2019
was abuzz with speculations around our partnership with Abu Dhabi Future Energy Company (“Masdar”), a global leader in renewable energy projects, sustainable real estate, sustainable mobility and waste to energy.

Finally, on November 11th, media reported announcement of the deal. As Trade Arabia reports, -[ It is a third-generation entrepreneurial company and part of the Munjal family’s Hero Group, which includes Hero MotoCorp the dominant leader in the domestic motorbike industry in India. HFE was established in 2012 as a deliberate strategic decision by the Group to enter the high growth market of power generation from clean and renewable sources of energy.

CEO Mohamed Jameel Al Ramahi said: "At Masdar, through our strategic investment in Hero Future Energies, we are proud to associate our name with one of India’s most iconic brands and to support its further expansion, both in India’s burgeoning renewable energy sector and new geographies." "As a global renewable energy leader active in more than 25 countries, and with HFE’s standing as one of India’s leading independent power producers specialising in onshore wind energy, PV power plants and rooftop solar, we see numerous opportunities to collaborate in growing our market presence and diversifying our portfolio in terms of clean technologies. "Our partnership with HFE heralds a new phase of growth for both our companies."]

Read more at https://herofutureenergies.com/backend/web/uploads/hfe-investment-media-coverage.pdf


December 2019
saw media reports on AIIB’s nod to $65 million senior long term project loan for Hero Future Energies’ 250 MW solar project in Bhadla, Rajasthan.

About AIIB: The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, it began operations in January 2016 and have now grown to 102 approved members worldwide.

Read more at https://mercomindia.com/aiib-approves-loan-hero-future-energies-solar-project-jodhpur/


From here:
 We have been using AI, Machine Learning and Big Data analytics to identify multiple geographies and targeted locations to get insights into power sources and plant-specific challenges. Going forward we intend to support and encourage scale-up of renewables to more widespread areas and plan to offer ‘plug and play’ platform to multiple upcoming green energy solutions, projects, technologies and enterprises who can enable and expedite the transition of the world to green energy generation and consumption and reduce our dependence on fossil fuels substantially in near future.  We are committed to support and partner with cleantech start-ups to scale up through seed funding.

Hero Future Energies implemented the first wind-solar commercial hybrid project in India, will be investing into first of its kind solar plant with a fisheries project underneath, to minimize usage of land to solar installations, in one of the South Asian countries; or exploring micro grid solutions using energy storage solutions at one of the islands in the Maldives. We are clear about exploring and achieving commercial success for differentiated renewable projects. Supporting newer green technologies and deploying customized solutions is in our DNA.

On the investments and capital deployment front, we plan to use multiple financial products and structure to increase the speed and scale of  ‘recycling of capital’ which will enable securing more and more funds for the proposed energy transition by attracting various classes of investors to suit their risk-return profile as well as ESG objectives.

 

Contributed by: Naveen Khandelwal, Chief Investment & Strategy Officer, Hero Future Energies

 
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