New Delhi : The solar energy sector in the country seems to be growing very fast. In this connection, Hero Future Energies i.e. HFE has started a solar energy project with a capacity of 29 MW in Chitradurga, Karnataka. The company said in a statement on Friday that it expects to generate 33 million units of green energy annually from the solar project. It is being told that due to this project, carbon dioxide i.e. CO2 emissions can be reduced by 31,624 tons.
The company said that this 'open access' system project will meet the electricity needs of the commercial and industrial i.e. C&I sector. Under the open access system, large electricity consumers are free to buy electricity from the supplier of their choice rather than from the local distribution company.
Srivatsan Iyer, Global Chief Executive Officer, Hero Future Energies, said, “This project is another milestone that expands our footprint in Karnataka and demonstrates our commitment towards reducing industrial carbon emissions. Through this, we aim to empower businesses and communities, and act as a partner to our commercial and industrial customers in their journey to net zero emissions.
HFE has recently signed a Memorandum of Understanding (MoU) worth Rs 11,000 crore with the Government of Karnataka to invest in renewable energy and green hydrogen projects across the state. HFE, the renewable energy unit of Hero Group, is backed by leading global investors such as International Finance Corporation (IFC) and KKR.
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Hero Future Energies is a global renewable energy company and part of the illustrious Hero Group, one of India's most respected business houses. HFE is headquartered in London and was founded in 2012 with a not-for-profit objective to contribute to preserving the environment for future generations. HFE has a global portfolio of 6.4 GW of renewable energy assets from projects operating or under construction in India, Ukraine, Bangladesh, Vietnam and the UK.
(with agency input)
