By Sethuraman N R

GUJARAT, Sept 17 (Reuters) - Indian conglomerate Hero

Group's power production unit plans to invest $20 billion over

the next six years to scale up its capacity by nearly 16 times,

chairman Rahul Munjal told Reuters at an industry event on

Tuesday.

Hero Future Energies, backed by global investors such as KKR

and International Finance Corporation (IFC), aims to

increase its capacity to 30 gigawatts (GW) by 2030 from an

installed 1.9 GW currently.

Indian companies are expanding their renewable energy

capacity, with the government aiming to add at least 500 GW of

clean energy by 2030 to reduce emissions.

Larger rival Tata Power announced investments

worth $9 billion to quadruple its renewable capacity, with

similar pledges coming from Reliance Industries and

Adani Green Energy at renewable energy conference

RE-Invest, held in the western Indian state of Gujarat.

Hero's capacity additions will go towards producing wind and

solar energy as well as battery storage technologies, and will

be funded internally and through a mix of debt and equity,

Munjal said.

The company, which already owns renewable energy projects in

India, Ukraine and Vietnam, expects 3.4 GW of capacity,

currently under construction, to be commissioned in the next two

years.