Apollo Green Energy (AGEL), part of Apollo International Group, has set its sights on building a Rs 10,000 crore project portfolio by 2025 and is gearing up for a public listing to fuel its expansion. The company, currently managing an order book of Rs 3,500 crore, with Rs 2,500 crore in ongoing solar and hydro projects, aims to use the IPO to boost its capacity in solar, energy storage, and green hydrogen initiatives across India.
AGEL’s portfolio includes significant solar installations across eight states, with 400 MW of solar capacity under development. The firm has achieved robust revenue growth, climbing from Rs 324.83 crore in FY22 to Rs 1,174.77 crore in FY24. This progress is part of a broader goal to support India’s target of 500 GW of renewable capacity by 2030. The company is executing notable projects, including a 40 MW solar project in Odisha, a pioneering 50 MW floating solar installation in Kerala, and a 200 MW solar tracker project in Gujarat. AGEL’s additional projects, such as 150,000 smart solar street lights in Bihar, emphasise its commitment to clean energy and efficiency.
CEO Sanjay Gupta highlighted the firm’s strategic direction: “Our upcoming IPO will bolster AGEL’s financial base, allowing us to invest in advanced renewable technologies and scale our operations to meet India’s energy needs. We’re expanding into wind, hybrid power, and battery storage solutions, aligning with the nation’s sustainability goals.”
To further strengthen its position, AGEL is also forming partnerships with technology providers and is exploring solar module production options, reinforcing its capacity to provide cost-effective and innovative renewable solutions for India’s future.