The Apollo International Group subsidiary Apollo Green Energy Limited (AGEL) declared on Tuesday that it intends to build a project portfolio of Rs 10,000 crore by 2025. According to the company, it has an order book worth Rs 3,500 crore at the moment and is working on solar projects worth Rs 2,500 crore all throughout India. This occurs as the business gets ready to go public in 2025.
The company thinks it is in a good position to maintain this pace into FY25, as revenue increased from Rs 324.83 crore in the fiscal year 2021–2022 to Rs 1,174.77 crore in FY24. "The 2025 initial public offering (IPO) will give us the capital we need to expand our business and make investments in cutting-edge renewable technologies," CEO Sanjay Gupta stated.
Apollo's green energy department provides renewable energy solutions in the Engineering, Procurement, and Construction (EPC) industry. It focuses on large-scale solar, energy storage, and burgeoning green hydrogen projects. The company operates in eight states and oversees a varied project portfolio, which includes 400 MW of solar systems, as well as other high-impact environmental initiatives.
One of the company's signature initiatives is the installation of Flue Gas Desulfurization systems in power production facilities, a Rs 700 crore project targeted at reducing sulfur dioxide emissions, a major contributor to air pollution, that is nearly finished.
The company's Crisil ratings of BBB/Stable for the long term and A3+ for the short term were reaffirmed in April 2024.