Sumitomo buys 49% in Hero Future Energies unit for Rs 375 crore

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The Economic Times daily newspaper is available online now. Read Today's Paper Sumitomo buys 49% in Hero Future Energies unit for Rs 375 croreET BureauLast Updated: Oct 07, 2026, 10:40:00 AM ISTSynopsis

Japan's Sumitomo Corporation has made a strategic investment by acquiring a 49% interest in a Hero Future Energies subsidiary for ₹375 crore, leaving Hero with a controlling 51% stake. This renewable energy project, based in Bidar, Karnataka, aims to produce 500 MW of electricity. Hero Future Energies' impressive 10 GW renewable energy portfolio underlines the significance of this partnership in Sumitomo's ambitions in India's growing energy sector.

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Loading...×New Delhi: Japan's Sumitomo Corporation has acquired a 49% stake in a unit of Hero Future Energies (HFE) for ₹375 crore, said people aware of the deal. HFE will retain a 51% stake.

The unit is developing a renewable energy project in Karnataka's Bidar district with a capacity to generate 500 MW electricity comprising wind, solar and battery energy storage.

Hero Future has a 10 GW renewable energy development pipeline including operational and under-construction projects. It has floated multiple units or special purpose vehicles to house its various projects.

"We are delighted to welcome Sumitomo Corporation as a strategic partner in this project," said Rahul Munjal, the company's chairman. "This partnership is an endorsement of HFE's capabilities to execute complex renewable energy projects at scale." Sumitomo is reportedly looking to invest around $1.3 billion in renewable energy in India.

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"Regarding the amount of our investment, we do not disclose the financial details of individual transactions and therefore are unable to comment on the figure mentioned in your inquiry," said a spokesperson for Sumitomo Corporation. Hero Future Energies also did not comment on the financial details.
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( Originally published on Oct 06, 2026 )Read More News onSumitomo CorporationHero Future Energiesrenewable energyKarnatakainvestment in Indiawind energysolar energybattery energy storage

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Read More News onSumitomo CorporationHero Future Energiesrenewable energyKarnatakainvestment in Indiawind energysolar energybattery energy storage

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