Hero Future Energies Secures INR 10,240 Mn SBI Funding for 60 MW Hybrid Project The investment will be channelled through its special purpose vehicle Clean Solar Power Barmer Private Limited.
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Hero Future Energies Pvt Ltd has secured funding of INR 10,240 million from State Bank of India for its renewable energy project in Andhra Pradesh.
The investment will be channelled through its special purpose vehicle Clean Solar Power Barmer Private Limited.
The funds are intended for the development of a 60 megawatt hybrid peak power project in Kurnool district. The project will integrate solar, wind and storage technologies and is contracted with the Solar Energy Corporation of India.
According to the company, the financing arrangement will be repaid over a 21 year period.
The project is expected to contribute to meeting rising energy demand while enhancing clean power capacity in the state. Hero Future Energies stated that the successful financial closure underlines the trust of financial institutions in its ability to develop hybrid renewable projects and ensures timely progress of the Kurnool initiative.
