Mumbai, March 7 -- Apollo Green Energy (AGEL) announced plans to launch its subsidiary, AGEL Renewable Energy, with an investment of Rs 500 crore aimed at developing a 1GW renewable energy portfolio.
The new subsidiary will focus on utility-scale solar power, integrating advanced energy storage systems, including hydrogen-based solutions. The 1GW portfolio is expected to be developed over the next 2-3 years, starting from FY26, with a focus on bridging gaps in India's renewable energy landscape.
AGEL Renewable Energy will compete for large-scale government tenders and establish Power Purchase Agreements (PPAs) with utilities and commercial clients.
Published by HT Digital Content Services with permission from Construction World.