UP Govt, Hero Group sign MoU worth Rs 4,000 cr

Hero Future Energies (HFE), part of business conglomerate Hero Group, has signed a memorandum of understanding with the Uttar Pradesh government for investing Rs 4,000 crore in a renewable energy and clean technology project.

The MoU was signed by Agriculture Production Commissioner and Infrastructure & Industrial Development Commissioner of the Uttar Pradesh government Manoj Kumar Singh and Hero Future Energies Chairman and MD Rahul Munjal on the sidelines of the World Economic Forum Annual Meeting.

The company currently has a portfolio of 3 GW of grid-connected wind, solar and rooftop solar power generating assets operating in India and Europe, and another 2 GW of projects are in the pipeline across India, Vietnam, Bangladesh, and the UK.

The Uttar Pradesh delegation also met senior representatives of HCL Technologies, Unilever, Nestle, Microsoft and ReNew in Davos.