AGEL's Solar Surge: ₹500 Crore Investment Sparks 1GW Expansion

Apollo Green Energy (AGEL) has launched a new subsidiary, AGEL Renewable Energy, committing ₹500 crore to expand its clean energy portfolio.

The subsidiary will focus on utility-scale solar projects while integrating advanced energy storage solutions, including hydrogen-based systems. AGEL Renewable Energy aims to develop 1GW of renewable energy capacity by FY26, supporting India’s clean energy transition.

It will actively participate in large-scale government tenders and establish Power Purchase Agreements (PPAs) with utilities and commercial consumers. To support its growth, the company plans to hire up to 200 professionals across engineering, project management, R&D, and operations.

“Our vision extends beyond power generation to include storage and supply-chain solutions, ensuring a reliable and sustainable energy transition,” said Raaja Kanwar, Managing Director of Apollo Green Energy.

As part of its expansion strategy, AGEL Renewable Energy will develop large-scale solar and wind projects, integrate storage solutions, and create sustainable revenue streams through power sales. This move aligns with the parent company’s plan to launch an Initial Public Offering (IPO) in 2025 to strengthen its renewable energy footprint.

News by Rahul Yelligetti.