2024-11-05 12:43:56 :
Apollo Group’s engineering and construction division plans spending $1,500 crore to expand capacity and take up government and public sector renewable energy projects, with most of the capex requirement coming from the initial public offering next year.
Apollo Green Energy Ltd, which ventured into the renewable energy sector less than a year ago, has secured a deal worth nearly $CEO Sanjay Gupta told Mint in an interview that the investment was Rs 2,830 crore, mostly in solar projects.
The company aims to expand its total portfolio $3,500 Crores Now $He said it will reach Rs 10,000 crore next year.
“Last year, when we started bidding, with no experience of doing solar in the past, within a year, we were able to achieve $25 billion rupees. So fast,” Gupta said. “So we’re very confident that in a year or even a year and a half, we can touch very quickly. $10,000 Crores. “
To this end, Apollo Green Energy plans to leverage India’s target of 500 GW of installed renewable energy capacity by 2030. The government’s plan could result in projects worth at least $100 million $1.25 trillion, he said.
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As of October, India’s renewable energy generation capacity was 201.45 GW, accounting for 46.3% of the country’s total installed capacity, according to government data. Solar power topped the list with 90.76 GW.
Apollo Green Energy has been actively participating in tenders issued by central and state governments as well as public sector companies to meet their $The order target is Rs 10,000 crore.
The company prioritizes companies with a value of at least $Gupta said the amount is Rs 1,000 crore and bids will be submitted at least twice a month.
“Not just the government, all PSUs (public sector undertakings) are giving a big push to install solar panels,” he said. “So we’re very confident in the opportunities that exist in the environment.”
Apollo Green’s revenue growth $325 Crore in 2021-22 $1,175 crore in 2023-24.
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IPO timetable
raise funds for it $With a capital expenditure plan of Rs 1,500 crore, Apollo Green plans to list on the exchanges before Diwali next year. The size of the IPO will be decided in March.
The company will use the proceeds to pay down debt, fund acquisitions and serve as a buffer for its working capital needs.
The company currently has $Debt of Rs 2.5 billion.
“We will try to repay all past dues and interest and meet my working capital requirement,” Gupta said. “This requirement usually comes in the form of working capital, in the form of any mergers and acquisitions that we are planning. We Looking to add up in terms of manufacturing facilities we want to grow within our system.”
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Apollo Green operates in eight states and manages 400 megawatts of solar installations, among other projects. It also operates a flue gas desulfurization (FGD) system to reduce sulfur dioxide emissions during power generation.
The company has also undertaken projects in Africa, Southeast Asia, West Asia and other regions. The company has shifted to an India-centric strategy over the past two years, mainly in the wake of the coronavirus pandemic.
The company also plans to expand into wind, hybrid, green hydrogen and battery storage solutions.
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