Hero Future Energies commissions 29 MW solar project in Karnataka
Hero Future Energies, the largest player in the renewable energy space, said Friday it had commissioned a 29 MW solar power project in Chitradurga, Karnataka. The firm aims to increase its renewable portfolio and provide support to the industrial segment in its journey on the decarbonized pathway.
About Solar Project
The Chitradurga-based solar power project would annually generate 33 million units of green energy. It would annually cut carbon dioxide emission by around 31,624 tonnes and further India’s aim at curbing its carbon footprint as well as raising its renewable energy share in its energy mix.
It is an open-access project by HFE, with an instant benefit of providing renewable power directly for businesses within the sectors C&I. Similar open-access projects allow companies within the industrial sector to procure renewable power from others outside the traditional framework of the grid. In this way, the initiative is crucial for decarbonization as it helps de-fossil fuel dependency more on the companies to evolve eco-friendly alternatives for usage in industries.
Environmental and Economic Benefits
According to Hero Future Energies, “The decarbonisation of industry shall accompany the generation of green energy”. The energy thus produced shall be sold to local industries so that they shall be able to transition onto net-zero emissions also at the same time reaping cheaper and cleaner power. The cost of operation for the firms will significantly come down in terms of renewable energy usage; that will help businesses improve a better environmental footprint as well as strengthen their sustainability profile.
This is something to be celebrated, this reduction in carbon dioxide more than 31,600 tonnes per year. Actually, it is in line regionally and nationally where there is a concerted effort towards curbing climate change and attaining sustainability as desired. The renewable source of energy that the solar project at Chitradurga will produce will reduce dependence on fossil fuels, and lesser amounts of greenhouse gas will emanate from it, helping to propel the greater goal toward a clean greener future.
Portfolio for Renewable Energetics at HFE
HFE has one solar project as part of its strategy that aims at tightening the company’s grip on Karnataka and all India. HFE has covered considerable miles in the exploitation of renewable energy sources and specific fields such as solar power and wind turbines. Further expansion was achieved through new projects such as its expanding renewable energy portfolio; including wind power installations, advanced hybrid systems, and its PV plants.
This will reveal that the companies portfolio includes renewable energy-based projects as well as high CUF projects such as hybrid power systems, peak power solutions, and firm dispatchable power. HFE will also invest in energy storage and green hydrogen because the latter is expected to find a place in future applications of clean energy.
Hero Future Energies is the investment arm of the Hero Group that represents sustainability and renewal of energies. It demonstrates commitment to the support of industrial transformation towards green sources of power through investments in new emerging technologies for renewable energy.
It also partnered with the state governments of Karnataka.
With relentless efforts towards the development of renewable energy, HFE has signed a Memorandum of Understanding with the Government of Karnataka. The Rs 11,000 crore Memorandum of Understanding would invite investments towards renewable energy projects and production of Green Hydrogen in the state of Karnataka. The Company has pledged itself through this pact to collaborate with the state of Karnataka towards the achievement of its complete potential towards the realization of complete power generation from renewable sources.
Karnataka state has emerged as the leader in India for all projects in renewable energy, and investment by HFE in Karnataka has strategically positioned it. Growing demand for clean energy solutions along with increased focus on sustainability is good for HFE to drive this change in the scenario of Karnataka and further ahead. Net-Zero Emission Vision
Hero Future Energies is looking to assist businesses and communities in becoming net-zero emitters. The strategy would be to provide an integrated solution that will allow industries to shift on to renewable resources, thus reducing their carbon footprint in the process. HFE will allow the C&I sector to get closer to sustainability with open access projects such as the Chitradurga solar farm, providing clean, reliable, and low-cost energy.
All the strategies the company comes up with are very much in accordance with the larger trend in which one can see multiple countries and, more importantly, industries adopting cleaner, sustainable energy. This is an age when in the world the appetite for renewable energy is growing exponentially fast, and here it is that HFE, with its foray in solar, wind power, hybrid power, and energy storage, puts itself at the center of the future world energy.
Future Outlook
This new solar project in Karnataka adds further to Hero Future Energies’ position as a leader in the race against competitors in the sector of renewable energy. The company’s continued expansion of operations in India and worldwide remains one of its key objectives, buoyed by a strong portfolio of clean energy projects and an unrelenting focus on decarbonizing the industrial sector. Since Hero Group is one of the strongest sustainability supporters, the action by HFE will stay longer in the renewable energy scenario.
The Chitradurga solar project is a precursor to all the future renewable energy initiatives it will reap huge environmental and economic benefits. Work in the solar and wind energy sectors, coupled with efforts by emerging technologies like green hydrogen, promises to drive India’s energy transition and work towards a sustainable energy future.
Source: Hero Future Energies