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Apollo Green Energy Limited (AGEL), a subsidiary of Apollo International Group, on Tuesday announced its plans to establish a Rs 10,000 crore project portfolio by 2025. Its current order book is valued at Rs 3,500 crore and active solar projects worth Rs 2,500 crore are under development across India, the company said. This comes as the company prepared for a public listing in 2025.
With revenue growth from Rs 324.83 crore in financial year 2021-22 to Rs 1,174.77 crore in FY24, the firm believes it is well-positioned to sustain this momentum into FY25. “Our IPO planned for 2025 will provide the financial backing required to scale our operations and invest in innovative renewable technologies,” said CEO Sanjay Gupta.
Apollo’s green energy arm is a renewable energy solutions provider in the Engineering, Procurement, and Construction (EPC) sector. It focuses on large-scale solar, energy storage, and emerging green hydrogen initiatives. Operating across eight states, the company manages a diverse project portfolio, including 400 MW of solar installations, and is involved in several high-impact environmental projects.
One of the companies flagship initiatives includes the installation of Flue Gas Desulfurization systems in power generation facilities, a Rs 700 crore project aimed at curbing sulfur dioxide emissions, a significant contributor to air pollution, which is nearing completion.
The company has maintained its BBB/ Stable for long-term and A3+ for short-term Crisil Rating, reaffirmed in April 2024.
As part of its long-term goal, the company aims to concentrate on solar, green hydrogen, and hydropower projects, aligning with India's target of achieving 500 GW of renewable energy capacity by 2030. The company is also looking to form strategic partnerships with technology providers and explore plans to manufacture its solar modules.
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