We are excited about India's focus on energy storage systems and hybrid power solutions

India has set a goal of achieving 500 GW of renewable energy capacity by 2030.

- RITWIK MUKHERJEE

The Centre's plan, once executed, can potentially generate projects worth at least Rs 1.25 trillion. And Apollo Green Energy, Apollo Group's engineering arm, which one year ago forayed into renewable energy space, is betting big on that. The company aims to expand its total portfolio from Rs 3,500 crore now to Rs 10,000 crore next year. The company seems well set to spend Rs 1,500 crore to expand its capacity and undertake government and public-sector renewable energy projects, sourcing most of its capital expenditure requirement from an initial public offering next year.

Speaking to The Statesman, Sanjay Gupta, CEO of Apollo Green Energy, charts out company's plans and strategies, going forward.

Excerpts:

Q: AGEL is preparing for a public listing in 2025 to support its expansion plans. Can you share some of the key factors that influenced this decision, and what do you hope to achieve through the listing?

A: We are excited about our upcoming public listing in 2025, which will help us fund our ambitious expansion goals. The decision was driven by the need to raise capital for our 1,500 crore expansion plan, as well as to reduce our debt. By going public, we aim to enhance our visibility in the market and gain access to the capital necessary for scaling up our renewable energy projects. We hope the listing will enable us to further strengthen our position in the growing renewable energy sector and align with India's energy goals. The funds raised will also help us explore new mergers and acquisitions, boosting our technological capabilities and operational efficiency. Ultimately, we aim to contribute significantly to India's renewable energy transition and deliver value to our shareholders.

Q: The company aims to build a Rs 10,000 crore project portfolio by 2025. What steps are being taken to achieve this ambitious target, and how do you plan to scale operations in the coming years?