Apollo Green Energy targets Rs 100 billion project portfolio, IPO on horizon
Author: PPD Team Date: November 7, 2024
Apollo Green Energy Limited (AGEL), part of Apollo International Group, has announced plans to build a Rs 100 billion project portfolio by 2025.
Currently, its order book stands at Rs 35 billion, with active solar projects valued at Rs 25 billion under development across India. AGEL is preparing for a public listing in 2025 to support its expansion in renewable energy.
The company reported significant revenue growth from Rs 3.25 billion in FY 2021-22 to Rs 11.75 billion in FY 2023-24. According to CEO Sanjay Gupta, the IPO will help AGEL scale operations and invest in innovative renewable technologies.
Specializing in large-scale solar, energy storage, and green hydrogen, AGEL operates across eight states with a portfolio that includes 400 MW of solar installations and a Rs 7 billion flue gas desulfurization project to reduce sulfur dioxide emissions. AGEL’s long-term Crisil Rating remains BBB/Stable, with A3+ for short-term credit, reaffirmed in April 2024.