Apollo Green Energy (AGEL) announced the launch of its subsidiary, AGEL Renewable Energy Ltd, with a commitment to invest Rs 500 crore in developing a 1 GW renewable energy portfolio in India over the next 2-3 years. The company's strategic focus will be on utility-scale solar projects, with an emphasis on integrating advanced energy storage solutions, including hydrogen-based systems. This investment is intended to support India's clean energy goals by addressing key gaps in the renewable energy sector. AGEL Renewable Energy Ltd plans to actively engage in large-scale government tenders and establish power purchase agreements with utilities and commercial consumers. The subsidiary's hiring plans include recruiting up to 200 professionals across various functions such as engineering, project management, research and development, and operations. By incorporating advanced storage technologies like hydrogen and batteries, AGEL aims to enhance energy reliability and affordability for all stakeholders while driving innovation in the renewable energy space. Apollo Green Energy's Managing Director highlighted the importance of aligning with national renewable energy targets and fostering innovation through the adoption of cutting-edge storage solutions. With operations in eight states and a diverse portfolio that includes 400 MW of solar installations, AGEL is poised to play a significant role in India's transition to sustainable and clean energy sources.