Mumbai: International Finance Corp. (IFC), the private sector investment arm of the World Bank, on Tuesday said it will invest $125 million (Rs.840 crore) in Hero Future Energies Ltd, the renewable energy arm of the Hero Group. Established in 2012, Hero Future Energies is present in nearly 10 states of India. Hero Future Energies plans to commission capacity of more than 1GW in the next 12 months. Hero Future Energies aims to use the funds to expand its capacity to 2GW by 2020, the report said. In February, Hero Future Energies had raised Rs.300 crore through the so-called certified climate bonds to expand its wind portfolio.

Source: Mint August 24, 2016 08:37 UTC