AGEL's Ambitious Plans for Renewable Energy Leadership in India
Key Ideas
  • Apollo Green Energy aims to build a Rs 10,000 crore project portfolio by 2025, with a focus on solar, energy storage, and green hydrogen initiatives.
  • The company, managing Rs 3,500 crore in projects, is set to boost its capacity in renewable energy and support India's target of 500 GW of renewable capacity by 2030.
  • AGEL's revenue has shown significant growth, climbing from Rs 324.83 crore to Rs 1,174.77 crore, with notable projects like solar installations, smart street lights, and solar trackers.
  • CEO Sanjay Gupta highlighted the upcoming IPO as a means to invest in advanced renewable technologies, expand operations, and align with India's sustainability goals through wind, hybrid power, and battery storage solutions.
Apollo Green Energy (AGEL), a part of Apollo International Group, is aiming for significant growth in the renewable energy sector in India. AGEL plans to build a Rs 10,000 crore project portfolio by 2025 and is preparing for a public listing to facilitate its expansion. With ongoing solar and hydro projects worth Rs 2,500 crore and a total order book of Rs 3,500 crore, AGEL is focusing on boosting its capacity in solar, energy storage, and green hydrogen initiatives across the country. The company has a robust portfolio that spans eight states, with 400 MW of solar capacity currently under development. AGEL has shown impressive revenue growth, surging from Rs 324.83 crore in FY22 to Rs 1,174.77 crore in FY24. This growth is part of AGEL's commitment to supporting India's ambitious target of achieving 500 GW of renewable capacity by 2030. AGEL is actively involved in various projects, including a 40 MW solar project in Odisha, a pioneering 50 MW floating solar installation in Kerala, and a 200 MW solar tracker project in Gujarat. Additionally, the company is working on innovative projects like 150,000 smart solar street lights in Bihar, showcasing its dedication to clean energy and efficiency. Sanjay Gupta, AGEL's CEO, emphasized the strategic direction of the company, stating that the upcoming IPO will strengthen AGEL's financial foundation, enabling investments in advanced renewable technologies. The company aims to expand into wind, hybrid power, and battery storage solutions to align with India's sustainability objectives. Furthermore, AGEL is forging partnerships with technology providers and exploring solar module production options to enhance its capability to offer cost-effective and innovative renewable solutions for India's energy landscape. AGEL's efforts reflect a positive outlook on the future of renewable energy and sustainability in India.
ADVANCEH2

Our vision is to be the world's leading online platform for advancing the use of hydrogen as a critical piece needed to deliver net-zero initiatives and the promise of a clean H2 energy future.

© 2024 AdvanceH2, LLC. All rights reserved.