Hero Future Energies, a player in the renewable energy sector, entered into a strategic agreement with PIXON Green Energy, domestic manufacturer of solar PV modules. Under the agreement, PIXON Green Energy will supply Hero Future Energies with high-efficiency modules, committing to provide up to 500 MW annually for a duration of two years from their fully automated facility located in Rajkot, Gujarat.
As reported by ETEnergyworld.com, in return, Hero Future Energies will ensure a steady uptake of modules from PIXON Green Energy, leveraging its 1.2 GW portfolio under construction and a robust pipeline of forthcoming projects. The commitment to procurement ensures stability in demand for PIXON Green Energy, facilitating enhanced capacity planning and resource management, thereby optimising operational efficiency.
Srivatsan Iyer, Global CEO, Hero Future Energies said “Global supply chains have been subject to disruption recently. Entering into a strategic partnership will allow us to control our costs better and have more visibility into our supply chain. This will help avoid any shocks that could impact our projects negatively, both in terms of costs and scheduling. We believe that this agreement will provide us with a steady supply of modules at less volatile prices, thereby enabling us to move forward towards realizing our pipeline of projects”.
Sumit Mehta, Co-founder and Director, PIXON Green Energy added, “As we embark on this collaborative journey, we are confident that our partnership with Hero Future Energies will foster increased transparency and trust within business relationships. By engaging in co- procurement of strategic components, PIXON aims to enhance the reliability of our operations while simultaneously providing Hero Future Energies with a clearer view of the procurement process. This partnership reflects the industry’s commitment to driving down costs, increasing competitiveness, and ultimately accelerating the transition to a cleaner and more sustainable energy future.”
