Hero Future Energies Pvt Ltd has achieved a significant milestone in its clean energy journey by securing funding of ₹10,240 million from the State Bank of India (SBI) for the development of a hybrid renewable energy project in Andhra Pradesh. The financial support will be routed through the company’s special purpose vehicle (SPV), Clean Solar Power Barmer Private Limited, which will be responsible for executing the project.
The upcoming project, located in the Kurnool district of Andhra Pradesh, will have a capacity of 60 megawatts (MW) and is designed as a hybrid peak power system. It will combine solar, wind, and energy storage technologies to deliver reliable, clean electricity. The project has been contracted with the Solar Energy Corporation of India (SECI), further strengthening the government’s push toward cleaner and more sustainable energy solutions.
This innovative hybrid model is expected to address the growing energy demands of the region while also enhancing the state’s renewable power infrastructure. By integrating various forms of renewable energy with storage solutions, the project aims to provide consistent power supply even during peak demand periods or when generation from a single source may be insufficient.
The funding provided by SBI will be repaid over a 21-year tenure, reflecting the bank’s long-term confidence in Hero Future Energies’ ability to deliver on its clean energy commitments. The financial closure also demonstrates strong institutional trust in the company’s track record and technical capabilities in developing and managing complex renewable energy projects.
Hero Future Energies highlighted that this financial closure marks a significant step toward achieving India’s clean energy transition goals. It also ensures that the development of the Kurnool hybrid project will proceed in a timely and structured manner, further reinforcing the company’s leadership in the renewable energy sector.
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