On 25^th July 2023, The Memorandum of understanding was signed on the sidelines of the 4^th  G20 Energy Transition Working Group (ETWG) meetings at Goa. A total investment of USD 744 million, gained cumulatively with the MoUs, going to be used for the development of Renewable Projects across India including Solar & Wind for C&I customers, Utility projects and Green Hydrogen Derivatives which is expected to strengthen the firm by ensuring the financial closure for future projects in the pipeline.

Hero Future Energies has signed two Memorandums of Understanding (MoUs) with REC Limited and PFC Limited for an infusion of USD 3732 million each in HFE over the upcoming five years. The MoUs was signed on the sidelines of the 4^th G20 Energy Transition Working Group (ETWG) meetings at Goa. A sum of USD 744 million, gained cumulatively with the MoUs, is going to be used for the development of Renewable Projects across India including Solar & Wind for C&I customers, Utility projects and Green Hydrogen Derivatives which is anticipated to strengthen the firm by ensuring the financial closure for future projects in the pipeline.

Additionally, Global CEO, of Hero Future Energies announced the collaboration with REC and PFC Limited. The company aimed to grow 5x in the next 5 years and this significant financial backing will accelerate business expansion across geographies.

Currently, Hero Future Energies has a portfolio of 1.8 GW of wind, grid-connected solar and rooftop solar power generating assets operating in India and Europe and another 2 GW of shovel-ready projects across India, Vietnam, Bangladesh, and the UK.

The Independent Power Producer (IPP) boasts about 1.8 GW of operating assets across utility and commercial and industrial sectors. In addition, the company announced to invest progressively in rooftop sectors, grid-connected solar & wind, energy storage & green hydrogen during the upcoming years in India and internationally.