Hero Future Energies and PIXON Green Energy have revealed the signing of a key tolling agreement, pertaining to the delivery of solar photovoltaic modules. As a part of the agreement, PIXON Green Energy will supply high-efficiency modules to Hero Future Energies, with a priority allocation of up to 500 MW per year. This collaboration is set to last for a duration of two years and will leverage PIXON Green Energy’s fully automated Ecoprogetti line located in Rajkot, Gujarat. Additionally, both entities will collaborate on the strategic purchase of components essential for manufacturing of modules.
PIXON Green Energy will receive a guaranteed commitment for module offtake from Hero Future Energies, which is anchored by their 1.2 GW portfolio currently under construction and a robust pipeline of upcoming projects. This assurance of demand will allow PIXON Green Energy to enhance capacity planning and allocate resources more efficiently, optimising operational processes.
In January 2024, on the sidelines of World Economic Forum meetings at Davos, Switzerland, Hero Future Energies and Uttar Pradesh government signed an MoU to invest Rs 40 billion in a project focused on renewable energy and clean technology.
In September 2023, Hero MotoCorp approved an investment of up to Rs 5.5 billion in rights issue of Ather Energy in the form of E2 compulsory convertible preference shares.
In July 2023, Hero Future Energies announced signing a MoU with REC Limited and PFC Limited to develop green energy projects.
