Hero Future Energies
Hero Future Energies is a privately held renewable energy developer and operator that builds, owns, and operates utility-scale solar, wind, hybrid, and battery storage projects, alongside green hydrogen solutions, serving utilities, DISCOMs, and large industrial customers across India, the UK, Vietnam, Singapore, and Mauritius.
- Company typePrivate
- Founded2012
- HeadquartersNew Delhi, India
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Hero Future Energies does
Hero Future Energies (HFE) is a privately held renewable energy developer and operator, founded in 2012 as the clean energy arm of the diversified Hero Group and headquartered in London with operational headquarters in New Delhi. The company develops, owns, and operates utility-scale solar, wind, and wind-solar hybrid projects complemented by battery energy storage systems (BESS), and has expanded into green hydrogen production for industrial decarbonisation. As of the most recent disclosures, HFE operates 7.2 GW of renewable energy capacity and 2.3 GWh of battery storage across India, the United Kingdom, Vietnam, Singapore, and Mauritius, with a stated target of 10 GW. The company pioneered several Indian market firsts, including the country's first climate bond issuance by a renewable energy firm (2016), first wind-solar hybrid project (2018), and first utility-scale storage-based tender win (2022), and is backed by institutional investors KKR and IFC.
HFE's product platform spans four core lines: (1) utility-scale generation across solar, wind, and hybrid technologies delivering firm, dispatchable power; (2) commercial and industrial (C&I) offerings including open access solar and rooftop installations; (3) battery energy storage systems for capacity firming, peak shaving, and energy shifting at both utility and C&I scale; and (4) end-to-end green hydrogen solutions for hard-to-abate industrial sectors such as steel, refining, cement, and manufacturing. In February 2025, HFE commissioned a first-of-its-kind plant at Tirupati, Andhra Pradesh, that blends green hydrogen with LPG and PNG for industrial heating, producing 25 tonnes per annum of green hydrogen.
The business model is anchored on long-term, fixed-price Power Purchase Agreements (PPAs) typically spanning 10–25 years with state utilities, DISCOMs, and C&I customers, supplemented by project development fees, EPC-adjacent services, and emerging hydrogen offtake contracts. Revenue is contracted and recurring in nature. Distribution is exclusively B2B: direct enterprise field sales teams engage utility and industrial offtakers, while international market entry (notably Vietnam) is enabled through channel partnerships with local developers and EPC contractors such as Horus Power. Capital sources include KKR and IFC equity, climate bond and green bond issuances, and project-level debt from Indian public-sector banks (State Bank of India, Canara Bank), with Rs 2,932 crore of new project debt raised in September–October 2025 alone and a November 2025 Rs 30,000 crore MoU with Andhra Pradesh for 4 GW of additional capacity.
Hero Future Energies firmographics
Firmographics- Name
- Hero Future Energies
- Legal name
- Hero Future Energies
- Website
- https://herofutureenergies.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Hero Future Energies is a privately held renewable energy developer and operator that builds, owns, and operates utility-scale solar, wind, hybrid, and battery storage projects, alongside green hydrogen solutions, serving utilities, DISCOMs, and large industrial customers across India, the UK, Vietnam, Singapore, and Mauritius.
- Ownership category
- akta.pro rank
Hero Future Energies industry classification
Industry- Product category
- Renewable Energy Generation
- NAICS
- Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Generation (22111)
- SIC
- Electric Services (4911), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Hybrid Wind Power Plants (Wind+Solar+Storage Co-located) (EUACAFAH)
- akta.pro secondary industries
- Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Distributed Generation (DG) Solar & Small Wind (EUAMAJAD), Distributed Storage (Behind-the-Meter Batteries) (EUAMAJAE), Utility-Scale Power Generation Asset Management (EUAEAMAA)
Keywords
Where Hero Future Energies is headquartered
LocationHeadquarters
- HQ city
- New Delhi
- HQ country
- India
- HQ region
- Asia
Offices6 records
Markets served
Hero Future Energies business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D
Revenue model
- Power Purchase Agreements (PPA): Long-term fixed-price Power Purchase Agreements with utilities, C&I customers, and state distribution companies. PPAs provide stable, contracted revenue streams typically spanning 10-25 years, underpinning project financing and cashflow predictability.
- Renewable Energy Project Development and Operation: End-to-end development, construction, and operational ownership of solar, wind, and hybrid renewable energy projects. Revenue accrues from power sales under PPAs and from providing clean energy to C&I customers via open access.
- Green Hydrogen Solutions: Green hydrogen production and supply to industrial customers seeking deep decarbonisation pathways, positioning Hero Future Energies as an industrial energy transition partner.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | PPA-based power supply — custom per project |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels8 records
Hero Future Energies product offering
Product offeringCore offering
Hero Future Energies develops, builds, owns, and operates utility-scale solar, wind, and hybrid renewable energy power plants, delivering clean electricity to utilities, DISCOMs, and large industrial buyers under long-term Power Purchase Agreements. It also delivers open access and rooftop solar solutions for commercial and industrial customers, deploys battery energy storage systems for grid firming and peak shaving, and produces green hydrogen for industrial decarbonisation across hard-to-abate sectors.
Product overview
Hero Future Energies operates as a renewable energy company offering an integrated portfolio of clean energy solutions across multiple technology segments. The company provides utility-scale solar, wind, and hybrid power projects with energy storage capabilities, alongside commercial & industrial offerings through open access and rooftop solutions. The product portfolio is anchored by core generation assets (7.2 GW renewable capacity and 2.3 GWh battery storage), supplemented by green hydrogen solutions for industrial decarbonization. The company also offers power trading services and operates across four countries (India, UK, Vietnam, and Ukraine).
Differentiator
Problem solved
Functional benefit
Products and services
- Utility Scale Solar Power Large-scale photovoltaic power generation projects providing clean electricity to state utilities, DISCOMs, and central utilities through long-term Power Purchase Agreements, commissioned across multiple Indian states.
- Utility Scale Wind Power Utility-scale wind energy projects harnessing wind power through turbine installations for electricity generation, supplying state utilities and DISCOMs under long-term PPAs.
- Utility Scale Hybrid Power Integrated power solutions combining solar, wind, and battery storage technologies to deliver firm, dispatchable round-the-clock power, peak power, and hybrid configurations for utility customers.
- Commercial & Industrial (C&I) Solar Solutions Customised open access and rooftop solar solutions enabling commercial and industrial customers such as manufacturers, steel companies, and large energy users to transition from fossil-fuel based grid power to cost-effective, clean, and reliable renewable energy.
- Battery Energy Storage Solutions (BESS) Battery energy storage systems offering CapEx and OpEx models for capacity firming, peak shaving, and energy shifting at both utility and commercial/industrial scales, integrating with solar, wind, and hybrid generation assets.
- Green Hydrogen Solutions End-to-end green hydrogen solutions for hard-to-abate industrial sectors, enabling hydrogen blending with LPG and PNG for industrial heating applications and supporting decarbonisation of chemicals, refining, manufacturing, steel, cement, and transportation sectors.
- Power Trading Services Power trading services enabling optimisation of energy distribution and participation in electricity markets for HFE's generation portfolio and customers.
Quantifiable outcome
- 20.44 million tonnes of CO2 emissions avoided through renewable energy generation
- +3 more outcomes
Companies that use Hero Future Energies
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Hero Future Energies technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Hero Future Energies partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Hoa Phat GroupcoreHero Future Energies entered a partnership with Hoa Phat Group, Vietnam's leading steel manufacturer, to develop rooftop solar projects at Hoa Phat's manufacturing facilities. This represents Hero Future Energies' first major commercial partnership in Vietnam and demonstrates its ability to serve Indian and Southeast Asian industrial conglomerates.
- Raman Kant Munjal FoundationminorCSR partnership focused on community development initiatives, leveraging the foundation's expertise in social impact projects in rural India.
- Tata GroupminorPartnership under the Water ATM initiative, supporting access to safe drinking water in underserved communities through Hero Future Energies' CSR programme.
- PHD Rural Development FoundationminorCSR collaboration to construct check dams in rural areas, contributing to water conservation and groundwater recharge as part of the company's sustainability and community development agenda.
- Horus PowerminorVietnam-based partnership for renewable energy project development in the Vietnamese market, complementing the Hoa Phat Group engagement.
Scale indicators6 records
Recent moves5 records
Expansion highlights6 records
Hero Future Energies competitors and assessment
Company assessmentDirect peers
- Acme Solar Holdings: Acme Solar is an Indian solar and hybrid IPP focused on utility-scale projects with a growing storage portfolio, directly comparable to HFE in project structure, offtake profile, and target DISCOM/industrial customers.
- Azure Power: Azure Power is a NYSE-listed Indian solar IPP developing and operating utility-scale and C&I rooftop solar projects, overlapping with HFE on technology, customers, and PPA-based revenue model.
- Sprng Energy: Sprng Energy is an Indian renewable energy IPP (Actis-backed) operating utility-scale solar and wind farms with C&I supply, directly comparable to HFE in business model, customer profile, and project scale.
- ReNew Power: ReNew Power is India's largest renewable energy IPP with utility-scale solar, wind, and hybrid projects plus a C&I offering, closely mirroring HFE's integrated business model across the same customers (utilities, DISCOMs, industrial offtakers).
- Greenko Group: Greenko is a leading Indian RE IPP with significant wind, solar, and (historically) pumped hydro storage assets, competing head-to-head with HFE in hybrid/firm renewable PPAs and large-scale storage-tied projects.
Broad incumbents
- JSW Energy: JSW Energy is a diversified Indian power company expanding aggressively into renewables (solar, wind, hybrid, storage), competing with HFE on utility-scale tenders while also operating thermal and hydro assets.
- Adani Green Energy: Adani Green Energy is India's largest listed pure-play renewable energy company and a much larger incumbent across solar, wind, and hybrid; competes with HFE on utility-scale tenders and C&I offtake but at a vastly greater scale and capital base.
- Tata Power Renewable Energy: Tata Power's renewables arm is a utility-affiliated developer of utility-scale solar, wind, and rooftop projects for C&I customers, overlapping with HFE's portfolio but with captive offtake from the Tata Group and a wider EPC/services portfolio.
Regional players
- Sembcorp Industries: Sembcorp Industries is a Singapore-headquartered energy and urban solutions group with renewables operations across India and Southeast Asia, overlapping with HFE's Singapore-anchored regional expansion and India/Southeast Asia C&I focus.
Emerging players
- Continuum Green Energy: Continuum Green Energy is an India-focused wind and solar IPP serving C&I customers through open access and group captive structures, comparable to HFE's C&I arm in customer type and offtake model though at a smaller scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Hero Future Energies social profiles
Digital presenceHero Future Energies compliance and trust
Trust signalCompliance3 records
Hero Future Energies financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hero Future Energies leadership team
Management profileNumber of profiles
Profiles4 records
Hero Future Energies subsidiaries and ownership
Company hierarchySubsidiaries5 records
Hero Future Energies funding detail
Funding detailFunding overview
Funding rounds5 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hero Future Energies M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hero Future Energies
What does Hero Future Energies do?
Hero Future Energies develops, builds, owns, and operates utility-scale solar, wind, and hybrid renewable energy power plants, delivering clean electricity to utilities, DISCOMs, and large industrial buyers under long-term Power Purchase Agreements. It also delivers open access and rooftop solar solutions for commercial and industrial customers, deploys battery energy storage systems for grid firming and peak shaving, and produces green hydrogen for industrial decarbonisation across hard-to-abate sectors.
Is Hero Future Energies a public or private company?
Hero Future Energies is a private company. It is classified as corporate owned and is currently operating.
When was Hero Future Energies founded?
Hero Future Energies was founded in 2012. It employs 251 to 500 people.
Where is Hero Future Energies based?
Hero Future Energies is headquartered in New Delhi, India, in the Asia region.
How does Hero Future Energies make money?
Three revenue lines are on record. Power Purchase Agreements (PPA) is the primary driver. The others are renewable Energy Project Development and Operation and green Hydrogen Solutions.
Who are Hero Future Energies's main competitors?
Direct peers on record are Acme Solar Holdings, Azure Power, Sprng Energy, ReNew Power and Greenko Group. Broad incumbents are JSW Energy, Adani Green Energy and Tata Power Renewable Energy. Sembcorp Industries is listed as a regional player. Continuum Green Energy is listed as an emerging player.
Does Hero Future Energies have an API?
No public API is recorded for Hero Future Energies.
What industry is Hero Future Energies in?
Hero Future Energies's product category is Renewable Energy Generation. Its primary akta.pro industry code is EUACAFAH, Hybrid Wind Power Plants (Wind+Solar+Storage Co-located), with a secondary code of EUAMABAB, Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System). Its NAICS code is 221114 and its SIC code is 4911.