Evolve Green Energies, the flagship company of Chennai-based Evolve Energy Group, announced on Saturday, 17 October 2026, a plan to build 3 GW of owned renewable energy assets by 2030.
The plan extends the group beyond solar manufacturing, engineering, procurement and construction (EPC), and operations and maintenance (O&M). The group intends to own and operate solar projects as an independent power producer, with contracted electricity revenue over an expected asset life of 25 years. 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.”
Karan Singh, CEO of the group’s Asset Division, said about 130 MW is expected to become operational this financial year, and that part of that capacity already supplies industrial customers.
Financing is the next step. Ravinder Pareek, Group Head of Finance, said the group is raising structured debt for a pipeline of more than 300 MW of projects under development. The wider plan will draw on project debt, strategic equity, and a future public listing, according to the release. The release names Tata Capital, IREDA, Aseem Infrastructure Finance, and YES Bank as existing financing relationships.
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The company estimates the planned portfolio will generate well over 4 billion units of electricity a year and more than 100 billion units over its lifetime. It also estimates the portfolio could avoid about 3 million tonnes of carbon emissions a year.
