Apollo Green Energy (AGEL) has launched its new subsidiary, AGEL Renewable Energy Ltd, with an investment of Rs 5 billion to develop a 1GW renewable energy portfolio in India. The subsidiary will focus on utility-scale solar projects and advanced energy storage solutions.
including hydrogen-based systems. It will actively bid for large-scale government tenders and establish power purchase agreements. The company plans to hire 200 professionals across engineering, project management, research & development, and operations.
Apollo Green Energy Limited (AGEL), a prominent player in India’s renewable energy sector, has announced a strategic investment of ₹500 crore to develop a 1 gigawatt (GW) renewable energy portfolio over the next two to three years. This initiative underscores AGEL’s commitment to advancing sustainable energy solutions and aligns with India’s ambitious goal of achieving 500 GW of renewable energy capacity by 2030.
Establishment of AGEL Renewable Energy Ltd
To spearhead this initiative, AGEL is establishing a wholly-owned subsidiary, AGEL Renewable Energy Ltd. This new entity will focus on utility-scale solar projects and integrate advanced energy storage solutions, including hydrogen-based systems. The integration of such technologies aims to enhance the reliability and efficiency of renewable energy, addressing intermittency issues associated with solar power.
Strategic Objectives and Projected Impact
The primary objective of this investment is to bridge critical gaps in India’s renewable energy landscape and contribute significantly to the nation’s clean energy goals. By developing a 1 GW renewable energy portfolio.
AGEL aims to provide sustainable energy solutions that support economic growth while minimizing environmental impact. The projects under this portfolio are expected to commence operations starting from the fiscal year 2026.
Alignment with National Renewable Energy Targets
India has set an ambitious target of achieving 500 GW of renewable energy capacity by 2030. AGEL’s planned investment aligns with this national objective, contributing to the broader efforts to transition towards a sustainable energy future.
Development of utility-scale solar projects, complemented by advanced energy storage solutions, is anticipated to play a crucial role in enhancing the stability and reliability of the renewable energy grid.
Expansion Plans and Future Outlook
Beyond this ₹500 crore investment, AGEL has outlined expansive growth plans in the renewable energy sector. The company aims to increase its project portfolio from the current ₹3,500 crore to ₹10,000 crore in the coming years. This ambitious expansion is indicative of AGEL’s proactive approach to capitalize on the burgeoning opportunities within India’s renewable energy landscape.
Preparation for Public Offering
In line with its expansion strategy, AGEL is preparing for an initial public offering (IPO) slated for 2025. The IPO is expected to provide the necessary capital to support the company’s growth initiatives, including the development of new renewable energy projects and the establishment of manufacturing facilities for solar modules. This move reflects AGEL’s commitment to becoming a vertically integrated entity in the renewable energy sector.
Apollo Green Energy Limited’s decision to invest ₹500 crore in developing a 1 GW renewable energy portfolio signifies a substantial commitment to India’s clean energy transition. Through the establishment of AGEL Renewable Energy Ltd, the company is poised to deliver utility-scale solar projects integrated with advanced energy storage solutions.
thereby enhancing the reliability and efficiency of renewable energy supply. These strategic initiatives not only align with national renewable energy targets but also position AGEL as a key contributor to India’s sustainable energy future.
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