Hero Future Energies has secured Rs 1,908 crore in funding from public sector banks State Bank of India (lead lender) and Canara Bank for a 120 MW hybrid renewable energy project in Kurnool, Andhra Pradesh.
The funding, extended through the special purpose vehicle (SPV) Clean Renewable Energy Hybrid Three, will support the development and construction of the project, which combines wind, solar, and storage technologies to supply firm peak power. Contracted with SJVN, the hybrid plant aims to deliver reliable energy during high-demand hours.
The loan comes with a 21-year repayment period, ensuring financial stability and timely implementation of the project. The initiative reflects the growing push for integrated renewable solutions that enhance grid reliability and support India’s clean energy transition