Apollo Green Energy plans to invest ₹500 crore to build 1GW portfolio
Apollo Green Energy (AGEL) is launching AGEL Renewable Energy with a ₹500 crore investment to develop a 1GW renewable energy portfolio by FY26. The subsidiary will focus on solar, wind, and hydrogen-based storage solutions while bidding for government tenders and PPAs. AGEL also plans to hire 200 professionals and launch an IPO in 2025.
Apollo Green Energy (AGEL) on Tuesday announced plans to launch its subsidiary, AGEL Renewable Energy, and is planning to invest ₹500 crore.
The subsidiary will focus on utility-scale solar while integrating advanced energy storage solutions, including hydrogen-based systems.
Through this investment, AGEL Renewable Energy aims to develop a 1GW renewable energy portfolio over the next 2-3 years, starting from FY26, to bridge critical gaps in India’s renewable energy landscape and contribute to the country’s clean energy goals.
AGEL Renewable Energy will actively bid for large-scale government tenders and establish Power Purchase Agreements (PPAs) with both utilities and commercial consumers.
Additionally, AGEL Renewable Energy is looking to hire up to 200 people across various roles, including engineering, project management, research and development and operations.
By creating storage solutions and leveraging its parent company’s engineering and procurement expertise, the subsidiary aims to deliver reliable and cost-effective renewable energy solutions
Raaja Kanwar, Managing Director of Apollo Green Energy, said, “The renewable energy sector is at a critical juncture where large-scale projects must address not only power generation but also storage and supply-chain challenges.”
The company’s pan-India strategy will include developing utility-scale solar and wind installations, implementing storage systems, and creating sustainable revenue streams through power sales to both utilities and industrial consumers.
The parent company has recently announced its plans for an Initial Public Offering (IPO) in 2025, aimed at further expanding its green energy portfolio and strengthening its position in the renewable energy market.
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Source : The Hindu Business line
