Hero Future Energies to Invest $20 bn in India's Renewables Over 6 Years

19 Sep 2024 CW Team

At an industry event, Rahul Munjal, Chairman of the Indian conglomerate Hero Group, informed Reuters that the group's power production unit plans to invest $20 billion over the next six years. This investment is intended to increase its capacity nearly 16-fold. Hero Future Energies, which is supported by global investors such as KKR and the International Finance Corporation (IFC), aims to expand its capacity to 30 gigawatts (GW) by 2030, up from its current installed capacity of 1.9 GW.

Indian companies are actively increasing their renewable energy capacities, driven by the government's target to add at least 500 GW of clean energy by 2030 to cut emissions.

In a related development, Tata Power, a larger rival, announced a $9 billion investment to quadruple its renewable capacity. Similar commitments were made by Reliance Industries and Adani Green Energy during the renewable energy conference RE-Invest, held in Gujarat.

Munjal also noted that Hero's planned capacity expansions will focus on producing wind and solar energy, along with battery storage technologies. The funding for these expansions will come from internal resources, as well as a combination of debt and equity. The company, which already has renewable energy projects in India, Ukraine, and Vietnam, anticipates that 3.4 GW of capacity currently under construction will be commissioned within the next two years.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..