In what will rank among the largest deals in the India’s clean energy space, United Arab Emirates’ Masdar (Abu Dhabi Future Energy Company) has acquired around 20% stake in Munjal family-promoted Hero Future Energies Pvt. Ltd for $150 million. HFE plans to build a 5-gigawatt (GW) portfolio by 2022. It also plans to put up a large grid-connected solar plant of up to 100MW capacity in South-East Asia. Alongside traditional renewable projects of solar and wind, HFE will look to deliver futuristic renewable energy projects utilizing new technologies, including battery storage and floating solar.

(Dealstreet Asia)