Hero Future Energies, a wholly-owned subsidiary of Hero Group, is planning to develop over one GW or 1,000 MW of renewable energy projects by 2016-17.
The company is likely to invest around Rs 7,000 crore in the next 3-4 years for its proposed plan. It will operate across various verticals of renewable energy like wind, solar and hydro, of which solar and wind will be the focus initially. It plans to have a solar power generation capacity of 150 MW and 50 MW of small hydro.
During the current financial year the company will develop 100 MW wind power capacity.
Earlier, the company commissioned a wind pilot project of 37.5 MW in Rajasthan, in October 2012, and is planning to expand this capacity to 800 MW by 2016-17.