Apollo Green Energy

The company is led by experienced people. Raaja Kanwar is Chairman and Managing Director of the Apollo International Group, which works in infrastructure, logistics, and trading in more than 45 countries. The CEO, Sanjay Gupta, has over 30 years of experience in power and infrastructure, including at NTPC, Lanco Infratech, and Waaree Energies.

Its other work includes about 150,000 smart solar street lights in Bihar, a Flue Gas Desulphurisation system that reduces emissions at power plants, refinery expansion and storage tank work for Indian Oil, and solar module and piling work for Adani Green at Khavda. It has also done water supply projects in Haryana and Uttar Pradesh.

The company plans a 500 MW solar module factory and a move into battery storage, green hydrogen, and EV charging, and it has said it plans to list. These are plans, not guarantees. In June 2026, a Swelect subsidiary agreed to buy 49% of Gridnex Solar, AGEL’s new 80 MW solar project company, for Rs 4.31 cr, while AGEL keeps control.

In October 2025, the rating agency Infomerics gave the company’s bank loans and debentures a “D” rating, and the rating was later marked “issuer not cooperating”. On the positive side, the company is developing new projects, such as the 80 MW solar plants under Gridnex Solar, and has shared plans to grow in battery storage and green hydrogen. For now, AGEL’s future depends on whether it can win and finish new projects while taking on much bigger rivals.