IFC to invest up to USD 125 mn in Hero Future Energies

IFC Gobal

International Finance Corporation (IFC) has announced to invest up to USD 125 million with IFC Global Infrastructure Fund in Hero Future Energies. The USD 125 million of equity and proceeds will be used to fund the construction of solar and wind power plant projects.

Hero Future Energies Pvt Ltd plans to have a total installed capacity of around 1000 MW in the next 12 months.

The proposed transaction is an equity investment in Hero Future Energies Private Limited (“HFE” or the “company”), a leading developer of solar and wind power projects in India.

The company has recently secured/implemented over 25 MW of rooftop projects and also plans to further expand its rooftop solar business. It is also actively looking to expand its international business in various geographies.

EY was the investment banker on the transaction and advised Hero Future Energies to raise the funds from IFC.

Early this year Hero Future Energies in a statement said that it has raised Rs 300 crore through issuance of rated and secured non-convertible debentures.

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