Apollo Green Energy Plans To Go Public In 2025, Targets Rs 10,000cr Portfolio

Apollo Green Energy Plans To Go Public, Aims Rs 10,000cr

Apollo Green Energy Limited (AGEL), part of Apollo International Group, is set to build a ₹10,000 crore project portfolio by 2025. Currently, the company manages an order book of ₹3,500 crore, with ₹2,500 crore of ongoing solar projects across various states in India. As part of its growth plan, AGEL is also preparing for a public listing in 2025 to support its expansion and secure new projects.

With a focus on renewable energy solutions across India, AGEL leverages Apollo International’s two decades of experience in the Engineering, Procurement, and Construction (EPC) sector. AGEL is an EPC company specializing in renewable energy, providing a range of solutions that include utility-scale solar, energy storage systems, green hydrogen initiatives, and hybrid power.

Operating in eight states, the company manages a portfolio of projects, including 400 MW of solar installations. “By focusing on solar, green hydrogen, and hydro energy projects, the company not only supports the nation’s energy transition but also delivers long-term value for stakeholders. With revenue growth from ₹324.83 crore in FY22 to ₹1,174.77 crore in FY24, AGEL is poised to sustain this momentum through FY25. Its expanding portfolio includes major solar installations across multiple states,” the firm said in a statement.

Sanjay Gupta, CEO, Apollo Green Energy Limited (AGEL) said, “As we advance our operations at Apollo Green Energy, we aim to establish a strong foundation for developing & executing renewable energy projects in India. With over 200 professionals and an order book of ₹3,500 crore, we are focused on delivering projects that meet the nation’s energy needs and promote sustainability. Our upcoming IPO in 2025 will further strengthen our financial base, enabling us to scale our operations and invest in cutting-edge renewable technologies.”

“Currently, we are executing a large utility-scale solar project which requires different technical expertise, like we are doing 40 MW solar fixed tilt in Odisha, 50 MW floating solar project (first of its kind)in Kerala and 200 MW solar with tracker technology in Gujarat. We are also executing 1,50,000 smart solar street lights project in Bihar. Going forward, AGEL will also expand its footprint in wind, hybrid, green Hydrogen and battery storage solutions.” he added.

In addition, AGEL is also forming strategic partnerships with technology providers and exploring options to produce its own solar modules. These moves will help the company expand its capabilities in renewable energy and keep projects cost-effective, all while contributing to India’s vision for a cleaner energy future.