Hero Future Energies said that it has signed two contracts to construct green energy projects with REC and PFC.

According to a statement from Hero Future Energies, the agreements were inked concurrently with the 4th G20 Energy Transition Working Group meeting, which was held last week in Goa.

"Hero Future Energies (HFE) has signed two memorandums of understanding (MoUs) with REC Ltd and PFC Ltd for infusion of Rs 3,100 crore each into HFE over the next five years," it said.

The funds will be used to develop renewable projects across the country, including solar and wind for commercial and industrial customers, utility projects and green hydrogen derivatives, and will strengthen the company by ensuring the financial closure for future projects.