Hero Future Energies Pvt Ltd (HFE), through its SPV Clean Renewable Energy Hybrid Three Private Limited, has secured funding worth Rs 19.08 billion from the State Bank of India (lead) and Canara Bank. The funds will be utilized for the development and construction of HFE’s 120 MW RE hybrid project situated at Kurnool, Andhra Pradesh.

The project is contracted with SJVN and integrates wind, solar, and storage technologies to deliver reliable peak power.

With a repayment period of 21 years, the funding will ensure timely project execution and commencement of commercial operation.

This financial closure reflects the lending community’s continued confidence in HFE’s expertise in developing complex hybrid renewable projects as the company looks to be an active contributor to energy transition in India.