Apollo Green Energy (AGEL) announced the launch of its subsidiary, AGEL Renewable Energy, with a planned investment of ₹500 crore in India. The focus of the subsidiary is on utility-scale solar and advanced energy storage solutions, including hydrogen-based systems. AGEL Renewable Energy aims to build a 1GW renewable energy portfolio over the next few years to support India's clean energy objectives. The company will participate in large-scale government tenders and establish Power Purchase Agreements (PPAs) with utilities and commercial consumers. AGEL Renewable Energy also plans to hire up to 200 individuals in roles such as engineering, project management, research and development, and operations. By utilizing its parent company's expertise in engineering and procurement, the subsidiary aims to offer reliable and cost-effective renewable energy solutions while addressing storage and supply-chain challenges in the sector. Raaja Kanwar, the Managing Director of Apollo Green Energy, emphasized the importance of addressing storage and supply-chain issues in large-scale renewable energy projects. The company's strategy involves developing utility-scale solar and wind projects, implementing storage solutions, and creating sustainable revenue streams through power sales to utilities and industrial consumers. Additionally, AGEL Renewable Energy's parent company plans to launch an Initial Public Offering (IPO) in 2025 to expand its green energy portfolio and bolster its position in the renewable energy market.