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Hero Future Energies, AP Government Ink INR 30,000 Crore Clean Energy Investment Deal

Hero Future Energies (HFE) has entered into a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh, committing an investment of Rs 30,000 crore to develop large-scale renewable energy projects across the state. The initiative aims to deploy HFE’s technical and execution capabilities to deliver 4 GW of green energy capacity within a structured implementation timeline.

The agreement, signed during the AP Government–CII Partnership Summit in Visakhapatnam, formalizes HFE’s plan to set up renewable energy facilities in Ananthapuramu, Kurnool, and Kadapa districts. Present at the signing were Srivatsan Iyer, Global CEO of HFE; AP Chief Minister N. Chandrababu Naidu; Chief Secretary K. Vijayanand, IAS; NREDCAP VC & MD Dr. M. Kamalakar Babu; APEDB CEO CM Saikanth Varma, IAS; and HFE Founder & CMD Rahul Munjal, along with senior officials from both sides. The projects are expected to create more than 15,000 direct and indirect employment opportunities.

Under the MoU, HFE will utilize its expertise in renewable technology, project engineering, and execution to complete the installations in two phases. The Andhra Pradesh Chief Minister assured full support from NREDCAP and APEDB, including coordination with state and central departments for permits and approvals. During the meeting, Munjal confirmed that HFE would allocate an additional Rs 15,000 crore toward renewable energy development in the state, taking the total proposed investment to Rs 30,000 crore.

Commenting on the partnership, Munjal said that the collaboration represents more than financial commitment—it highlights how government and private industry can jointly accelerate India’s clean energy transformation. He added that Andhra Pradesh’s forward-looking policies and strong infrastructure make it a highly attractive investment hub.

The MoU, valid for 12 months, is aimed at enabling rapid project initiation and streamlined investment facilitation. Srivatsan Iyer noted that the upcoming projects will serve as a blueprint for large-scale renewable ecosystems that integrate scale, innovation, and socio-economic impact. He emphasized that the 4 GW capacity addition will not only advance the state’s decarbonization goals but also foster long-term employment and attract related industries, strengthening Andhra Pradesh’s position in India’s renewable energy landscape.