The KKR-backed power company is assessing a 50 MW electrolyser project paired with 250 MW of hybrid renewable capacity as it targets emissions-intensive industries.
Hero Future Energies is preparing to commit about ₹4,000 crore to green hydrogen projects as it positions itself for a market it expects to gather pace over the next three to four years, according to an interview with founder and chairman Rahul Munjal published by Mint. The KKR-backed renewable power company is targeting industrial customers in sectors such as steel, cement and refining, where companies face mounting pressure to cut emissions and replace fossil-fuel-based inputs.
Munjal said the company is evaluating a 50 MW electrolyser project alongside 250 MW of hybrid renewable capacity, with the investment expected to be roughly ₹4,000 crore. He said specific projects would be disclosed later, once they were further developed. Hero Future Energies has also been building experience through smaller efforts, including a green hydrogen facility at Rockman Industries in Tirupati, Andhra Pradesh, which Andhra Pradesh chief minister N. Chandrababu Naidu inaugurated in March last year, according to the company and Mint.
The company’s broader portfolio already spans 7.7 GWp of renewable energy assets and 2.9 GWh of battery storage across India, Ukraine, Vietnam and the UK, according to Hero Future Energies. Its project mix includes solar, wind, hybrid, round-the-clock power and storage-backed supply, with most of its power contracts tied to central government-backed buyers such as the Solar Energy Corporation of India, NTPC and NHPC, Munjal said. The company said around 80% of its current Indian generation capacity is utility-scale and the rest serves commercial and industrial users.
Hero Future Energies is also weighing pumped storage projects as demand grows for power that can be delivered when the sun is not shining and the wind is not blowing. Munjal said the company had previously looked at the segment, but had not yet begun detailed work on a new project. He added that if the economics make sense, the company would not rule it out. Separately, Hero Future Energies says on its website that it is developing green hydrogen applications for industrial heating, green ammonia and green methanol, underlining its intention to move beyond conventional renewable power and into harder-to-abate industries.
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