Hero Future Energies secures PPA for 120 MW renewable-plus-storage project, signs green hydrogen MoU

Hero Future Energies has secured a power purchase agreement with SJVN to develop a renewable energy project backed with storage to supply 120 MW firm and dispatchable power. It has also signed an agreement for a $200 million green hydrogen production plant in Vietnam.

April 7, 2025 Uma Gupta

Image: Hero Future Energies

Hero Future Energies has entered into a power purchase agreement (PPA) with SJVN to develop a 120 MW firm and dispatchable renewable energy project. It had won the project under SJVN’s tender for supply of 1.2 GW firm and dispatchable power from RE power projects with energy storage system in India at a tariff of INR 4.25/kWh.

Hero Future Energies will develop the project on a build-own-operate basis. The project can be located anywhere in India and must connect to the interstate transmission system.

“Once commissioned, this project will meet the energy requirements of one of North India’s leading states for the next 25 years,” stated Hero Future Energies.

In a separate development, Hero Future Energies has signed a memorandum of understanding (MOU) with the Binh Dinh Provincial Department of Finance, Vietnam, to explore the development of a $200 million green hydrogen production project in Binh Dinh province.
The MOU was presented at the 2025 Binh Dinh Investment Promotion Conference on March 28, in the presence of the deputy prime minister of Vietnam, Nguyễn Chí Dũng.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.