The company is expected to commission 1.1 GW in FY27, 2 GW in FY28, 2.95 GW in FY29 and another 1.75 GW in FY30, according to estimates by Axis Capital
Rahul Munjal, Founder & Chairman, Hero Future Energies, said on the partnership, “We are delighted to welcome Sumitomo Corporation as a strategic partner in this project."
The investment will cover manufacturing of ingots, and wafers
The portfolio, held through DBL Renewable Private Limited, has an estimated total project cost of around Rs 6,263 crore
The transaction is understood to have reached an in-principle agreement, with signing expected shortly
The additional capacity could generate annual savings of Rs 6,200-6,700 crore, translating into a payback period of around 1.8-2.2 years
The funds will primarily support the company’s growth plans, including acquisitions
