Apollo Green Energy (AGEL) announced the establishment of a subsidiary, AGEL Renewable Energy Ltd, with plans to invest Rs 500 crore in developing a 1 GW renewable energy portfolio over the next 2-3 years. The focus of the subsidiary will be on utility-scale solar projects while also incorporating advanced energy storage solutions, notably hydrogen-based systems. This initiative aims to address key challenges in India's renewable energy sector and support the nation's clean energy objectives. AGEL Renewable Energy Ltd intends to actively participate in government tenders and form power purchase agreements with utilities and commercial consumers to drive renewable energy adoption. By emphasizing advanced storage technologies like hydrogen and batteries, AGEL aims to align its efforts with India's renewable energy targets and drive innovation in the sector. The company plans to hire up to 200 individuals in various capacities such as engineering, project management, research and development, and operations to support its expanding portfolio. AGEL's commitment to energy reliability and affordability is evident through its strategic focus on cutting-edge storage solutions and active engagement in the renewable energy market. With existing solar installations totaling 400 MW across eight states, AGEL is poised to make a significant contribution to India's sustainable energy landscape.