UAE's Masdar acquires stake in India's renewable energy firm | ZAWYA MENA Edition:
Abu Dhabi Future Energy Company (Masdar) has acquired a stake in India’s Hero Future Energies (HFE), the renewable energy arm of Rahul Munjal’s Hero Group.
The Economic Times had reported at the beginning of October that Masdar will acquire a 20 percent stake in HFE for $150 million.
Masdar’s stake acquisition follows a $125 million investment in HFE by the International Finance Corporation (IFC), part of the World Bank, in 2017.
HFE, whose existing operations are mostly in India, expects as much as 25 percent of its growth to come from new markets in Europe and Asia.
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