India needs all energy sources to meet its demand’

SRIVATSAN IYER, CEO, HERO FUTURE ENERGIES

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Hero Future Energies (HFE), which according to some reports is looking at an initial public offering (IPO) to raise about 3,500 crore, recently raised ₹1,908 crore in funding from State Bank of India and Canara Bank. Srivatsan Iyer, chief executive officer of HFE, tells Raghavendra Kamath about the company’s plans and his views on Indian renewable energy sector.

There’s been some talk about a possible IPO. Can you share any details?

At this stage, our priority is project execution. That’s where all our focus lies. If and when an IPO happens, it will depend on regulatory developments and timing. But right now, it’s all about delivering on the projects we’ve already won.We had KKR come in as an equity investor a couple of years ago, so we're capitalised and focused on executing our signed PPAs on schedule.