Apollo Green Energy to Invest ₹500 Crore to Develop 1GW Renewable Portfolio.

Apollo Green Energy (AGEL) has announced the launch of its new subsidiary, AGEL Renewable Energy, with plans to invest ₹500 crore to expand its clean energy portfolio.

The new entity will focus on utility-scale solar projects while incorporating advanced energy storage solutions, including hydrogen-based systems. AGEL Renewable Energy aims to develop a 1GW renewable energy capacity over the next two to three years, starting from FY26, to support India’s clean energy transition.

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

“Our focus 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 broader expansion strategy, AGEL Renewable Energy will develop utility-scale solar and wind projects, integrate storage solutions, and create sustainable revenue streams through power sales. The move aligns with the parent company’s recently announced plans for an Initial Public Offering (IPO) in 2025 to strengthen its renewable energy footprint.

HBL