India based IL&FS Mutual Fund (Infrastructure Debt Fund) has committed INR 125 crore (~ $13.60 million) to Hero Solar Energy, part of the Hero Future Energies platform. The investment will refinance existing debt and support expansion of renewable energy projects. Hero Solar Energy will issue secured debentures to IL&FS Mutual Fund to facilitate the deployment of long-term capital. The investment expands IL&FS MF’s renewable energy financing activities in India. The fund has committed nearly INR 1,500 crore to renewable energy investments across the country. Its renewable portfolio includes CleanMax, AD Hydro Power Ltd, Bhilwara Green Energy, BG Wind Power, Inox Wind, Polyplex Corporation, Kanchanganga Hydro Power, Bhilangana Hydro Power, Radiance Renewable Energy and Ayana Renewable Power. Average returns from these investments have exceeded 9.5% per year.