Hero Future Energies to invest Rs 1,000 cr in green hydrogen, RE in Karnataka

Hero Future Energies Pvt Ltd (HFEPL) has signed a Memorandum of Understanding (MoU) with the Government of Karnataka to invest ₹11,000 crore in green hydrogen projects, its derivatives, and other renewable energy initiatives in the state. These projects, slated to begin in 2025-26, will be executed over two to three years and are expected to create approximately 3,000 jobs.

During the MoU signing, the HFEPL leadership emphasized the company’s commitment to addressing global environmental challenges by advancing next-generation energy solutions. ” At Hero Future Energies, we recognise that unprecedented environmental challenges demand bold and decisive steps toward the next generation of energy. With 6+ GW of renewable energy portfolio, we are expanding our decarbonization efforts beyond the grid into hard-to-abate industries such as transportation, and heavy engineering manufacturing.”

HFEPL also highlighted India’s potential to become a major exporter of clean energy, positioning itself as a leader in green hydrogen and its derivatives. The firm stated that leveraging expertise and first-mover advantage, it aims to deliver pioneering decarbonization solutions from India to the world. Karnataka, with its progressive policies, abundant renewable resources, and commitment to green innovation, is an ideal partner for the vision.

The MoU signing ceremony was attended by Karnataka’s Minister for Large and Medium Industries and Infrastructure Development, M.B. Patil, along with senior officials. The state government has pledged to facilitate permissions, approvals, and incentives to ensure timely project implementation under existing policies and regulations.

Founded in 2012 by Rahul Munjal, who serves as Chairman and Managing Director, HFEPL is part of the Hero Group, which also includes Hero MotoCorp, the world’s largest two-wheeler manufacturer.

This partnership underscores Karnataka’s position as a leading investment destination and its commitment to green energy solutions and sustainable industrial growth. The agreement was formalized during the London Roadshows, part of Karnataka’s efforts to attract global investments and drive technological innovation.