KKR, Hero Group To Invest About $450 Million In Hero Future Energies
The investment in Hero Future Energies will help expand its renewable energy capacity and capabilities over time, KKR & Co. says.
KKR and Hero Group has signed a pact to invest $450 million (about Rs 3,580 crore) in the latter’s renewable energy arm.
The investment in Hero Future Energies will help expand its renewable energy capacity and capabilities across solar, wind, battery storage and green hydrogen and into new markets over time, the global investment firm said in a statement.
The private equity will make the investment through its Asia Pacific Infrastructure Fund, it said.
This investment, while driving Hero Future's renewables capabilities, will also accelerate India's energy transition, the company said.
KKR & Co., which has invested over $15 billion in equity globally in renewable assets, sees the segment as core to its infrastructure strategy in the Asia-Pacific and aims to tap into opportunities across the region, it said.
Separately, Mahindra & Mahindra Ltd., the automobile unit of Mahindra Group, on Sept. 18 said Ontario Teachers’ Pension Plan Board has inked a pact to invest in its renewables energy arm, Mahindra Susten Pvt.