Hero Future Energies secures Rs 1,908 cr funding from SBI, Canara Bank

Hero Future Energies on Monday said it has secured Rs 1,908 crore in funding from public lenders State Bank of India and Canara Bank.

These funds will be utilised for the development and construction of a 120 MW renewable hybrid project at Kurnool in Andhra Pradesh, the company said in a statement.

The company has secured funding of Rs 1,908 crore from the State Bank of India (lead) and Canara Bank through SPV Clean Renewable Energy Hybrid Three Private Limited.

The project is contracted with SJVN and integrates wind, solar, and storage technologies to deliver reliable peak power.

With a repayment period of 21 years, the funding will ensure timely project execution and commencement of commercial operation, the company said.