Apollo Green Energy Limited (AGEL), a subsidiary of Apollo International Group, has announced its ambitious goal of establishing a Rs 100 billion project portfolio by 2025. Currently, the company’s order book stands at Rs 35 billion, with Rs 25 billion worth of active solar projects under development across India.
With a public listing planned for 2025, AGEL expects to leverage this to scale operations and invest in new renewable technologies. The company’s revenue surged from Rs 3.25 billion in FY22 to Rs 1,174.77 crore in FY24, a growth trajectory that CEO Sanjay Gupta believes will continue.
AGEL is a leading player in the Engineering, Procurement, and Construction (EPC) sector, focusing on large-scale solar, energy storage, and green hydrogen projects. Operating in eight states, the company has completed 400 MW of solar installations and is nearing the completion of a Rs 700 crore Flue Gas Desulfurization (FGD) system to reduce sulfur dioxide emissions in power plants.
Rated BBB/Stable for long-term and A3+ for short-term by Crisil, AGEL is well-positioned to pursue its long-term goals. These include expanding solar, green hydrogen, and hydropower projects in alignment with India’s target of achieving 500 GW of renewable energy capacity by 2030. AGEL is also exploring strategic partnerships and plans to venture into solar module manufacturing to further its growth in the renewable energy sector.
