As a sustainable solutions company, Hero Future Energies (HFE) is working to ensure that renewable energy is available 24x7, reliable, dispatchable, and scalable in India. Excerpts from an edited interview with Srivatsan Iyer, Global CEO of Hero Future Energies:
How do you see HFE’s role evolving in emerging sectors?How do you see HFE’s role evolving in India’s renewable energy ecosystem?
The growth of renewable energy in India has been impressive. The only downside is its intermittency and unpredictability. The demand usually requires predictability and dispatchability. Integrating different technologies and building an energy storage system holds the key to meeting that demand profile. We see ourselves playing a significant role in ensuring that renewable energy is available 24x7, reliable, dispatchable, and scalable in India.
What is the current share of Commercial and Industrial (C&I) projects in HFE’s portfolio?
C&I is a growing sector and going forward our share, too, in the sector is going to grow gradually. We have multiple open-access projects and have been quite active in the behind-the-meter rooftop projects for the C&I segment.
We are focused on devising decarbonising solutions for corporations. Our efforts include Green Hydrogen as a potential solution. Our first Green Hydrogen project is under construction and will go live soon. We are looking at blending hydrogen with conventional hydrocarbon fuel to meet the power demands of industries and help them achieve their Net Zero targets.
What kind of learnings are you bringing to India, given your extensive worldwide experience?
We are active in more mature markets and we aspire to bring the learnings to Indian markets. For example, European and American markets have market-based electricity tariffs. We must start thinking about how to do it here. Another thing we can learn from the US is how battery storage provides power to the grid and critical services for its stability, like balancing services, regulating voltage and regulation, and so on.
How is HFE fostering innovation to stay ahead?
Be it the first solar-wind hybrid project, the first standalone utility scale battery, or building the first Green Hydrogen project, innovation has been how we think about the business. We always want to incorporate new technologies and add value to our work. We always need to keep one step ahead. We are a sustainable energy solutions company, and innovations will always play a critical role.
How are you balancing your social and environmental responsibilities with your financial interests?
We operate on three core pillars — planet-positive, water-positive, and people-positive. Our core motivation is to provide sustainable solutions. Financial success is important because it allows the money to be returned to the business. However, we aim to deliver the right solutions with the right economics, and financial success will follow.