Hero Future Energies Raises $125 Million From IFC
Renewable energy firm Hero Future Energies announced raising USD 125 million from International Finance Corp (IFC) for expanding its clean power generation capacities. IFC is picking up equity stake in the company at an investment of USD 125 million, Chairman and Managing Director of Hero Future Energies, the renewable energy arm of Hero Group, Rahul Munjal told reporters here.
However, Munjal did not disclose the quantum of minority equity stake to be given to IFC.
He said the investment will help the company expand its renewable energy capacity, provide jobs and facilitate private sector development in renewable energy. IFC, together with IFC Global Infrastructure Fund, a private equity fund managed by IFC Asset Management Company, will invest USD 125 million in equity, enabling ...