Apollo Green Energy Plans IPO by 2025, Aims for INR 10,000 Crore Portfolio
Apollo Green Energy Ltd. plans to launch an IPO in 2025 to support its goal of achieving INR 10,000 crore project portfolio. The company currently manages INR 3,500 crore order book, focusing on solar and renewable energy projects across India.
To this end, AGEL is preparing for a public listing in 2025 to support its expanding project pipeline and finance new initiatives. With a current order book of INR 3,500 crore, AGEL is managing INR 2,500 crore in active projects that span solar energy installations and power and water-related engineering, procurement, and construction (EPC) work across India, said the firm in its statement.
It further said that over the past year, AGEL has experienced rapid revenue growth, from INR 324.83 crore in FY22 to INR 1,174.77 crore in FY24, marking a substantial leap in its renewable energy ventures. AGEL operates in eight states and has completed or is undertaking several major renewable projects, including 400 MW of solar installations and EPC projects.
A prominent recent initiative involves the near-completion of a INR 700 crore Flue Gas Desulfurisation (FGD) project aimed at reducing sulfur dioxide emissions from power generation—an essential measure in improving air quality and adhering to environmental standards.
To support India’s transition to clean energy, AGEL is investing in a diversified range of renewable technologies. The company’s expertise spans utility-scale solar projects, energy storage systems, hybrid power setups, and green hydrogen projects.
Sanjay Gupta, CEO of AGEL, remarked, “As we advance our operations, we aim to build a solid foundation for developing and executing renewable energy projects across India. Our upcoming IPO in 2025 will strengthen our financial capacity, enabling us to scale operations and invest in cutting-edge renewable technologies that align with India’s clean energy goals.”
As per the firm, AGEL is advancing multiple renewable energy projects across India, including a 40 MW fixed-tilt solar project in Odisha, a 50 MW floating solar installation in Kerala, a 200 MW tracker-based solar project in Gujarat, and a 1,40,000-unit smart solar street light initiative in Bihar.
To broaden its footprint into wind energy, the firm is looking forward to set up hybrid renewable setups, green hydrogen, and battery storage solutions, adding further depth to its clean energy portfolio, as per the firm in its statement. Further, the planned IPO in 2025 is expected to accelerate AGEL’s financial strength and open new avenues for renewable technology investment
