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September 20, 2013Hero Group to build a Green Plant in India
Most of the large Indian conglomerates have made huge investments in renewable energy. The Tatas, Reliance, Shriram, Welspun, Mahindras and other large groups have put in a lot of money into building green energy plants. While the Tatas and Reliance have large utilities and no choice but to build renewable energy plants, others have built up standalone large green companies.
Now India’s largest motorcycle manufacturer, the Hero group has caught the renewable energy buy and wants to build 1000 MW of green energy plants in the next few years. The company has already built a small 37.5 MW wind energy farm in Rajasthan and is building a 10 MW solar plant in Karnataka.
Renewable energy in India has a great future due to the massive and growing energy demand and lack of fossil fuel sources. These plants require a lot of initial investment but not much in terms of recurring costs as the fuel (solar and wind) are free. This makes them immune to inflation which average in the double digits. These large conglomerates not only have the balance sheet to raise large amounts of capital but are also huge consumers of energy. Welspun Group has become one of the largest renewable energy developers in a short period of time and Hero Group could intimidate them if it executes on this plan.
Read more about List of Top Renewable Energy/Green/CleanTech Companies in India which are Publicly listed.