The strategy is designed to strengthen control over project execution, optimise costs and establish 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.”
Karan Singh, CEO, Asset Division, Evolve Energy Group, said approximately 130 MW of capacity is expected to become operational during the current financial year, with a portion already supplying electricity 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,” Singh said.
Structured Debt Funding to Support Project Pipeline
Evolve is raising structured debt to support a pipeline of more than 300 MW of projects currently under development. The broader 3 GW renewable energy portfolio is expected to be financed through a combination of project debt, strategic equity and a future public listing.
The Group's financing relationships include Tata Capital, IREDA, Aseem Infrastructure Finance and YES Bank.
Ravinder Pareek, Group Head of Finance, Evolve Energy Group, said the company's financing strategy is focused on aligning 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,” Pareek said.
Once fully operational, the planned portfolio is expected to generate more than 4 billion units of clean electricity annually and over 100 billion units across its projected lifetime. According to the company's estimates, the portfolio could also help avoid approximately 3 million tonnes of carbon emissions annually.
Integrated Business Model Underpins Expansion
Founded in 2011, Evolve Energy Group expects to cross Rs. 700 crore in revenue during the current financial year. The Group employs more than 350 people and operates across over 15 states, serving commercial, industrial and residential customers.
Its operations span five key business areas. Under the EVVO brand, the manufacturing business produces solar modules, inverters, mounting structures and electrical panels. Its EPC division delivers rooftop and ground-mounted solar projects, while its renewable energy asset ownership business develops, owns and operates solar power projects as an independent power producer (IPP).
The Group also provides operations and maintenance services to support the long-term performance of solar installations. Its residential solar solutions are offered through Evolve Green Homes.
According to CRISIL, Evolve Green Energies ranks among the leading solar companies nationally in both the rooftop EPC and rooftop OPEX developer categories.
Its customer portfolio includes JK Lakshmi, Hitachi Energy, LG, Wheels India, Subros, Caplin Point and Shyam Metallics, among others.
Evolve to Showcase Integrated Capabilities at REI Expo 2026
Evolve will present its integrated capabilities at REI Expo 2026 through a pavilion titled “The Whole Chain”. The showcase will highlight the Group's operations across manufacturing, project execution, asset ownership and lifecycle maintenance.
The presentation will demonstrate how the integration of these business functions supports the company's long-term growth strategy as it moves towards its 3 GW renewable energy asset ownership target by 2030.
Headquartered in Chennai, Evolve Energy Group operates as an integrated solar energy platform covering manufacturing, engineering, procurement and construction, renewable energy asset ownership, and operations and maintenance. Established in 2011, the Group serves commercial, industrial and residential customers across multiple Indian states, with residential solar solutions provided through Evolve Green Homes.
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