Hero Future Energies Pvt. Ltd., the London-based subsidiary of the Hero Group, announced on Sunday that it signed an agreement with the Government of Karnataka to establish renewable energy and green hydrogen projects worth ₹11,000 crore ($1.298 billion).

Both parties signed the memorandum of understanding during a road show in London, spurring sustainable industrial development in Karnataka.

The ambitious plan is expected to create approximately 3,000 jobs in Karnataka and position the state as a hub for green innovation.

According to a statement, the Hero Group subsidiary plans to kick-start these projects over the next two to three years.

Clean Energy Transition

The company already boasts a robust portfolio of over 6 GW in renewable energy capacity and enjoys the support of marquee investors such as IFC, a member of the World Bank Group, and private equity firm KKR.

“At Hero Future Energies, we recognize that unprecedented environmental challenges demand bold and decisive steps toward the next generation of energy,” the company stated at the MoU signing.

“As India emerges as a significant exporter of clean energy, we are poised to lead this transition, particularly in green hydrogen and its derivatives, to offer first-of-its-kind decarbonization solutions to the world.”

MB Patil, Karnataka’s minister for large and medium industries and infrastructure development, presided over the event and affirmed his commitment to facilitating the timely implementation of these projects.

Preferred Destination

He said the state will provide necessary permissions, approvals, and incentives aligned with its progressive policies.

The minister further said that Karnataka, which has abundant renewable resources, is already a preferred destination for investments in clean energy and advanced manufacturing.

The collaboration will provide a massive fillip for Karnataka as it prepares for its Global Investors Meet, Invest Karnataka 2025.

The state aims to establish itself as a competitive and digitally advanced industrial ecosystem, with green energy as a cornerstone of its economic strategy.

“This initiative strengthens Karnataka’s reputation as a global leader in green energy solutions while paving the way for sustainable growth and technological advancement,” officials noted during the signing event.

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