AGEL's Ambitious Expansion: Fueling India's Renewable Energy Growth
Key Ideas
- AGEL aims to expand its renewable energy portfolio to Rs 10,000 crore by 2025, supported by an upcoming IPO to fund new projects.
- The company specializes in EPC for solar, energy storage, green hydrogen, and hybrid power solutions, with a focus on reducing sulfur emissions.
- AGEL is undertaking various large-scale projects across India, including solar plants in Odisha, Kerala, and Gujarat, along with solar street light initiatives in Bihar.
- Future plans involve venturing into wind energy, green hydrogen, battery storage, and forming strategic partnerships to align with India's target of 500 GW of renewable energy by 2030.
Apollo Green Energy Limited (AGEL), a key player in India's renewable energy sector, has set forth ambitious plans to expand its renewable energy portfolio to Rs 10,000 crore by 2025. This expansion is bolstered by an impending IPO that aims to support new projects as AGEL manages an order book worth Rs 3,500 crore, including significant solar projects across India. The company specializes in Engineering, Procurement, and Construction (EPC) for renewable energy, focusing on solar, energy storage, green hydrogen, and hybrid power solutions. AGEL's ongoing efforts include a major Flue Gas Desulfurization (FGD) project to reduce sulfur emissions, signaling its commitment to sustainability. Revenue growth has been substantial, with revenues increasing significantly in recent years. AGEL's upcoming IPO plans coincide with multiple large-scale projects in various Indian states, including solar plants and street light initiatives. Looking into the future, AGEL aims to diversify into wind energy, green hydrogen, battery storage, and forge strategic partnerships to support India's renewable energy goals. These initiatives underscore AGEL's dedication to sustainability, innovation, and contributing to India's renewable energy targets.