Apollo Green Energy (AGEL) has announced its plans to establish a subsidiary, AGEL Renewable Energy Ltd, with a significant investment of Rs 500 crore to develop a 1 GW renewable energy portfolio in India over the next 2-3 years. The subsidiary will primarily focus on utility-scale solar projects while also integrating advanced energy storage solutions, specifically hydrogen-based systems. This strategic move is aimed at closing critical gaps in India's renewable energy sector and supporting the nation's clean energy objectives. AGEL Renewable Energy Ltd intends to actively participate in government tenders and form power purchase agreements to facilitate the growth of renewable energy infrastructure. Additionally, the company plans to hire up to 200 individuals across various functions to support its operations. Raaja Kanwar, Managing Director of Apollo Green Energy, expressed that the initiative emphasizes energy reliability and affordability for all stakeholders. By leveraging technologies like hydrogen and batteries in their energy storage solutions and engaging in government tenders, AGEL is actively contributing to India's renewable energy targets while fostering innovation. With existing operations in eight states and a diverse project portfolio, including 400 MW of solar installations, AGEL is poised to make a significant impact in the renewable energy sector.