Apollo Green Energy to go public next year; aims to build Rs 10,000 cr project portfolio by 2025

New Delhi: Apollo Green Energy Ltd (AGEL), part of Apollo International Group, on Tuesday said it is preparing for a public listing next year to support its expansion plans and secure new projects.

Also, the company is set to build a Rs 10,000-crore project portfolio by 2025.

"With over 200 professionals and an order book of Rs 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," Sanjay Gupta, CEO, Apollo Green Energy Ltd, said.

AGEL is a leading Engineering, Procurement, and Construction (EPC) company specializing in renewable energy, providing a range of solutions that includes utility-scale solar, energy storage systems, green hydrogen initiatives, and hybrid power.

Operating in eight states, the company manages a diverse portfolio of projects, including 400 MW of solar installations.

The company has been involved in the execution of Flue Gas Desulfurization (FGD) systems to reduce sulfur dioxide emissions, a major contributor to pollution, in power generation. This project, valued at approximately Rs 700 crore, is nearing completion.

"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 a 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." Gupta added.

AGEL aims to play a crucial role in supporting India's clean energy goals.

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, the company said.

With revenue growth from Rs 324.83 crore in FY22 to Rs 1,174.77 crore in FY24, AGEL is poised to sustain this momentum through FY25, underscoring its commitment to operational efficiency.

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.