Hero Future Energies Pvt Ltd

Company Background Company Details

Hero Future Energies Private Limited (HFE), the renewable energy
venture of Hero Group (a USD 9 billion group)* was incorporated in
Company Name Hero Future Energies Pvt Ltd
October 2012 as an Independent Power Producer (IPP) in renewable
Sector Alternate Energy
energy with focus on both domestic as well as international markets.
Credit Rating A1 (CRISIL)
HFE is the only IPP in India with strong backing of the Promoter Group
Headquarters New Delhi
substantiated by upfront capital commitment by the promoter of USD Email info@herofutureenergies.com
119 Mn (USD 115 Mn already infused by the promoter).The company
had an operating capacity of 356 MW as of 31st Mar’16 with proposed
operating capacity of 1 GW by Mar’17 and objective of achieving more Capacity Breakup (in MW)
than 2.5 GW of operating capacity by FY2020. HFE has created a pan
India presence with diversification along technologies (wind, solar, solar 7%
5% Rajasthan
2%
rooftop), business strategies (Greenfield, acquisition, etc) and power
3% Andhra Pradesh
sale mechanisms (State utilities, group captive etc). 15%
Karnataka
*By Market Capitalization
‘FY x’ refers to 12 month period starting from April of previous year to March of x year 17% Madhya Pradesh
19%
Financial Highlights Gujarat
32% Maharashtra
In USD (Mn) FY 16 FY 17 FY 18
(Prov.) (Proj.) (Proj.) Telangana
Installed Capacity
356 979 1460
(in MW)
Revenue 43.8 89.4 214.3 Installed Capacity and Future Targets (in MW)
Growth % 221% 104% 140%
3000
EBITDA 31.4 76.8 194.4 2500
2500
Growth % 417% 145% 153%
EBITDA Margin (%) 72% 86% 91% 2000
1460
Interest Expense 20.5 38.5 88.6 1500
979 932
Net Worth 109.4 235.3 285.0 1000 626 528
Long Term 500 316 356 353
221.8 860.4 1230.6 40
Borrowings
0
As on Date Mar-17 Mar-18 Mar-20
Business Highlights Solar Wind Total

• Backed by blue chip sponsor group – Investment of USD 119 mn

Key Management
• Professional management supported having significant sector
experience and strong execution capabilities
• Robust existing portfolio of ~356 MW with long term PPAs S.No. Name Designation
diversified across states and technologies 1 Mr. Rahul Munjal MD
• Identified future project pipeline along with successful track record 2 Mr. Sunil Jain CEO
of bidding in solar projects 3 Mr. Naveen Head, Investments
Khandelwal
• Proven ability to raise non-recourse debt, log tenor debt (~20
4 Sr VP, Projects and
years) at attractive terms from various marquee financial lenders Mr. Atul Raaizada
O&M
including banks, NBFCs and FIIs 5 Head, Solar
Mr. Abhay Raaina
 Hero Future Energies Pvt Ltd
Key Pipeline Projects

Project Andhra Pradesh Karnataka Karnataka

Technology Wind Solar Solar
Capacity (MW) 240 MW 180 MW 200 MW
120 MW (Ph I&II) –
Expected COD Mar’17; Mar‘17 Sep’17
120 MW (Ph III) – Dec’17
MUs 811 Mus 386 MUs 458 MUs
Estimated Capex USD 302 Mn USD 170 Mn USD 190 Mn

Estimated Debt
USD 242 Mn USD 136 Mn USD 152 Mn
Requirement

In addition to debt required for funding under construction and developmental projects, the company is also
continuously seeking refinancing opportunities to fund operational projects at superior terms.