Apollo Green Energy, an engineering and construction firm specializing in renewable energy, announced plans to set up a 500-megawatt (MW) solar module plant within the next two to three years.
The facility will be located in Madhya Pradesh and will provide components for the company’s projects.
CEO Sanjay Gupta indicated that they may consider increasing the plant’s capacity, though he did not provide additional details.
IPO Planned for 2025
Apollo Green Energy intends to tap into the domestic public markets in 2025 to support the execution of new projects.
“We are actively following market trends and collaborating with financial consultants to determine a fair valuation for the initial public offering,” said Gupta.
He expects to finalize the IPO size in the next three to four months.
Current Projects and Growth Strategy
The company is currently managing 400 MW of solar installations along with other engineering, procurement, and construction (EPC) projects.
The brand aims to diversify into wind energy, green hydrogen, and battery storage solutions as part of its expansion strategy.
Ambitious Revenue Targets
As reported by reuters.com, Apollo Green Energy’s current order book stands at $416 million. The company plans to triple this figure, aiming for an order book of 100 billion rupees by the end of the financial year.
