Integrated solar company is raising structured debt for a pipeline of over 300 MW as it expands into long-term renewable energy asset ownership
Chennai, Tamil Nadu, India (NewsVoir)
Evolve Green Energies, the flagship company of Evolve Energy Group, has announced plans to build a 3 GW portfolio of owned renewable energy assets by 2030, marking a strategic expansion into long-term clean power generation and asset ownership.
The roadmap builds on the Group’s capabilities across solar manufacturing, engineering, procurement and construction (EPC), and operations and maintenance (O&M). By integrating these capabilities with asset ownership, Evolve aims to strengthen control over project execution, optimise costs and build a portfolio of contracted electricity revenues over an expected asset life of 25 years.
Commenting on the roadmap, Rajesh V. Shah, Founder, Chairman and Managing Director of Evolve Energy Group, said, “Every megawatt we commission is a 25-year annuity. We manufacture it, build it, own it and run it. That integration is our moat. Every year builds on the last. Three gigawatts by 2030 is how we turn fifteen years of execution into decades of predictable, compounding value.”
“With approximately 130 MW of capacity expected to become operational during the current financial year, and a portion already supplying power to industrial customers, our focus is on translating the 3 GW roadmap into a portfolio of well-executed, high-performing renewable energy assets. By bringing together Evolve’s manufacturing, EPC and operations capabilities, we aim to maintain greater control over project timelines, quality and lifecycle performance while delivering reliable clean power to our customers,” said Karan Singh, CEO, Asset Division, Evolve Energy Group.
“Our financing approach is to align capital with the development and operating lifecycle of each project. As we raise structured debt for the pipeline of more than 300 MW, our priority is to balance growth with financial discipline and build a funding framework that supports the Group’s long-term asset ownership strategy,” said Ravinder Pareek, Group Head of Finance, Evolve
