Hero Future Energies: Hero Future Energies to invest $2 billion

New Delhi: Hero Future Energies, the renewable energy arm of Munjal family-promoted Hero group, will invest over USD 2 billion in the next 30 months to expand its power generation capacity. It will focus on energy storage projects to capitalize on the sharp decline in battery prices, the company’s global CEO Srivatsan Iyer told TOI. “We currently have an operational capacity of 1.8 gigawatts (GW). We got here after about 12 years. We will be implementing projects with a total capacity of 2.6 GW over the next two and a half years as we feel it is time for the company to spread its wings,” Iyer said. A large part of the projects in the pipeline include battery energy storage systems and were won at auctions conducted by SECI (formerly Solar Energy Corporation of India), the state agency tasked with implementing the National Solar mission. “We want to focus on integrating multiple technologies such as solar, wind and energy storage rather than projects that use only solar or wind energy,” he said.

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