Hero Group set to buy wind energy assets of Bhilwara Energy

Hero Future Energies (HFE) is in discussions with Bhilwara Energy Limited (BEL) to acquire the latter’s wind energy assets. HFE will acquire 83.5 MW of wind projects from BEL’s total portfolio of 103.5 MW – a 49.5 MW project at Satara, a 14 MW project at Bhendewade, both in Maharashtra, and a 20 MW project at Jaisalmer in Rajasthan. The proposed deal, expected to be an all-cash one, will take HFE’s renewable energy portfolio to 1,200 MW. BEL intends to dispose of its wind assets in order to focus on large- hydro projects in Himachal Pradesh, Arunachal Pradesh and Nepal.