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Hero Future Energies Signs PPA with SJVN for 120 MW FDRE Project in India

Hero Future Energies (HFE) has signed a Power Purchase Agreement (PPA) with SJVN Limited to develop a 120 MW firm and dispatchable renewable energy project, following its successful bid in SJVN’s 1.2GW FDRE-2 tender. The agreement, struck at a tariff of INR 4.25/kWh, represents another step in India’s push toward 24/7 reliable clean energy, with HFE committing to supply power for 25 years to meet the energy needs of one of North India’s leading states.

The project, which will be developed on a build-own-operate basis, is flexible in its location within India but must be connected to the Interstate Transmission System (ISTS). It will rely on a mix of renewable energy sources integrated with energy storage — essential for meeting firm supply obligations under the FDRE guidelines.

“Once commissioned, this project will meet the energy requirements of one of North India’s leading states for the next 25 years,” HFE stated. The project underscores the company’s strategic role in delivering dispatchable renewables, an increasingly vital segment as India ramps up efforts to balance variable solar and wind with storage and grid stability.

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