Hero Future Energies Secures ₹1,024 Cr SBI Loan for 60 MW Andhra Pradesh Hybrid Project

Hero Future Energies Pvt Ltd has secured Rs 1,024 crore (INR 10,240 million) in funding from the State Bank of India through its special purpose vehicle Clean Solar Power Barmer Private Limited to develop a 60 MW hybrid peak power project in the Kurnool district of Andhra Pradesh. This project integrates solar, wind, and storage technologies, making it more efficient and reliable, and is contracted with the Solar Energy Corporation of India (SECI). The funding, with a repayment period of 21 years, will support the timely construction and completion of the hybrid renewable energy initiative. The successful financial closure reflects strong confidence from financial institutions in Hero Future Energies' expertise in executing innovative renewable projects. Additionally, the company benefits from backing by prominent global investors like the International Finance Corporation (IFC) and KKR, enhancing its position in the renewable energy sector. This project aims to contribute to meeting rising energy demand while expanding clean power capacity in Andhra Pradesh.