Apollo Green Energy Limited (AGEL), a subsidiary of Apollo International Group, aims to expand its renewable energy portfolio to Rs 100 billion by 2025, supported by plans for an initial public offering (IPO). Currently managing a Rs 35 billion order book, AGEL oversees Rs 25 billion in solar projects across eight states, including 400 MW of solar installations and a Rs 7 billion Flue Gas Desulfurization (FGD) project to reduce emissions in power generation.
AGEL’s revenue surged from Rs 3.24 billion in FY22 to Rs 11.74 billion in FY24, driven by its focus on solar, green hydrogen, and hybrid energy solutions. CEO Sanjay Gupta emphasized the company’s mission to sustainably meet India’s energy demands, with the IPO serving as a critical step to scale up operations and invest in advanced renewable technologies.
Key projects include a 40 MW solar installation in Odisha, a 50 MW floating solar plant in Kerala, and a 200 MW solar tracker project in Gujarat. AGEL is also deploying 150,000 smart solar street lights in Bihar and exploring opportunities in wind, green hydrogen, and battery storage.
To further strengthen its position, AGEL is forging alliances with tech providers and considering in-house solar module production to reduce costs, advancing its role in India’s renewable energy sector.
