Jio IPO Expected to Surpass $6 Billion...
05 Nov 2024
Apollo Green Energy Limited (AGEL), the renewable energy arm of Apollo International Group, is setting ambitious targets as it prepares for a public listing in 2025. With a current order book valued at ₹3,500 crore, the company aims to expand its project portfolio to ₹10,000 crore, capitalizing on India's burgeoning renewable energy market.
AGEL has demonstrated impressive revenue growth, climbing from ₹324.83 crore in FY22 to ₹688.85 crore in FY23, and further to ₹1,174.77 crore in FY24. This growth underscores AGEL’s aggressive expansion strategy within India's renewable energy sector, which includes solar and hydro projects. The company operates across eight states, managing a diverse array of projects, including 400 MW of solar installations and multiple large-scale Engineering, Procurement, and Construction (EPC) ventures.
Sanjay Gupta, CEO of AGEL, stated, “As we expand our operations, our goal is to lay a robust foundation for renewable energy projects in India. With an order book of ₹3,500 crore and a dedicated team of over 200 professionals, we are committed to delivering projects that support the country’s energy and sustainability objectives. Our upcoming IPO will bolster our financial resources, enabling us to scale up and invest in cutting-edge renewable technologies.”
AGEL's project pipeline features several high-impact renewable installations. Current undertakings include a 40 MW fixed-tilt solar project in Odisha, a pioneering 50 MW floating solar installation in Kerala, and a 200 MW solar project with tracker technology in Gujarat. In Bihar, AGEL is deploying 150,000 smart solar streetlights, reflecting its commitment to sustainable infrastructure.
Aligned with India’s clean energy goals, AGEL is also exploring new technologies such as wind, green hydrogen, and energy storage solutions. The company is in talks with technology providers for strategic partnerships and aims to manufacture its own solar modules to enhance capabilities and maintain competitive costs.
Additionally, AGEL’s involvement in pollution control initiatives, such as Flue Gas Desulfurization (FGD) systems, supports India's efforts to reduce sulfur dioxide emissions from power generation.
With India's renewable energy target set at 500 GW by 2030, AGEL’s focus on utility-scale solar, hydro energy, and green hydrogen projects aligns perfectly with the nation’s ambitious goals.
Chat on WhatsApp
Request a call back
