Kerala Electricity Board Awards Hero Future Energies 10-MW Battery Storage Project

Delhi-based renewable energy developer and the renewable arm of the Hero Group, Hero Future Energies (HFE), claimed last week that it has “emerged as a successful bidder” in the tender floated by the Kerala State Electricity Board (KSEB). The tender was for the construction of a 10 MW grid-connected energy storage plant in the state.

A news report quoted the terms and conditions of the tender as mandating the KSEB to provide land in its substation on lease basis for setting up the project. HFE is to commission the project within 15 months of signing the agreement.

Released by the company, an official statement reads that the battery storage is the future of the renewable energy in India and every state will need to float more tenders in the days ahead. The company has revamped its organisational structure replacing Sunil Jain with Srivatsan Iyer as its global Chief Executive Officer. The firm currently has renewable assets of around 2 GW and has plans for aggressive growth in the coming years. Against the backdrop of several global opportunities, HFE is set to take advantage of these opportunities by using innovative cleantech solutions and expand its business footprint in India and internationally.

The current portfolio includes 1.2GW of wind and solar power and an additional 1.5GW under construction or planned. The Company has a 2022 growth target of 5GW of installed and operating capacity. As the global economy continues to grow and demand cleaner power, HFE has taken a pledge to reduce dependence on power generated by fossil fuels like coal, oil and natural gas to fight back against climate change. The company claims that along with traditional renewable projects of solar and wind, HFE has delivered futuristic renewable energy projects making use of new technologies that include battery storage and floating solar.

The company claimed to have developed a pipeline of 500MW of large-scale grid connected solar projects across Europe (including the UK) and Asia (including Bangladesh, Singapore, Vietnam, Philippines and Indonesia). Taking to the best engineering practices and faster adoption of futuristic technologies, HFE hopes India’s transition to green energy will be one step closer to the target.