Evolve Green Announces 3 GW Solar-Asset Portfolio Built on a Compounding Growth Engine

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, expanding its integrated solar business into long-term clean power ownership and generation.

The roadmap builds on the Group’s capabilities across manufacturing, engineering, procurement and construction (EPC), and operations and maintenance (O&M). Through this integrated model, Evolve aims to improve project delivery, optimise costs and build a growing base of contracted electricity revenues over an expected 25-year asset life.

Commenting on the roadmap, Rajesh V. Shah, Founder, Chairman and Managing Director, 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. 3 GW by 2030 is how we turn fifteen years of execution into decades of predictable, compounding value.”

Approximately 130 MW is expected to be operational during the current financial year, with a portion of this capacity 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 Mr Karan Singh, CEO, Asset Division, Evolve Energy Group.

“When you own an asset for 25 years, you build it differently. With manufacturing, EPC and O&M under one roof, we control quality from the module line to the commissioned plant and through every year of its operation. As we scale across more than 15 states, our operational priority is to grow execution capacity without compromising on safety, timelines or plant performance,” said Mr Sanjay Sheth, President and Group COO, Evolve Energy Group.

The company is raising structured debt for more than 300 MW of projects under development. Its broader 3 GW roadmap is expected to be financed through a combination of project debt, strategic equity and a future public listing. Evolve’s financing relationships include Tata Capital, IREDA, Aseem Infrastructure Finance and YES Bank.

“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 Mr Ravinder Pareek, Head of Corporate Finance.

Once fully operational, the planned portfolio is expected to generate more than 4 billion units of clean electricity annually and over 100 billion units during its projected lifetime. The company estimates that the portfolio could help avoid approximately 3 million tonnes of carbon emissions each year.

An Integrated Platform for Growth

Founded in 2011, Evolve Energy Group expects to cross ₹700 crore in revenue during the current financial year. The Group has more than 350 employees and operates across over 15 states, serving commercial, industrial and residential customers.

Evolve Green Energies ranks in top Solar companies nationally in both the rooftop EPC and rooftop OPEX developer categories, according to CRISIL. Its customer portfolio includes JK Lakshmi, Hitachi Energy, LG, Wheels India, Subros, Caplin Point , Shyam Metallics & more.

“The Whole Chain” at REI Expo 2026

Evolve will showcase its integrated capabilities at REI Expo 2026 through its pavilion, “The Whole Chain.” The showcase will bring together the Group’s capabilities across manufacturing, project execution, asset ownership and lifecycle maintenance, demonstrating how these businesses support its next phase of growth.

About Evolve Energy Group

Headquartered in Chennai, Evolve Energy Group is an integrated solar energy platform spanning manufacturing, EPC, renewable energy asset ownership, and operations and maintenance. The Group serves commercial, industrial and residential customers, with residential solutions offered through Evolve Green Homes.

(No ET Now Journalists are involved in creation of this article.)