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

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.