Xpansiv Acquires Evident to Create Global Renewable Energy Registry Leader
Xpansiv's acquisition of Evident combines their renewable energy certificate registries to create a global network with over 300 GW of capacity, enhancing market transparency and supporting the growing demand for clean energy certification worldwide.
Xpansiv Limited has acquired Evident Group Limited, uniting their complementary registry and infrastructure capabilities to support the continued growth of global renewable energy markets. The agreement combines Evident's international renewable energy for electricity (I-REC(E)) and other registries with Xpansiv's North American Renewables Registry (NAR) and Tradable Instrument for Global Renewables Registry (TIGR) to establish a preeminent global renewable energy certificate (REC) network with over 300 GW of capacity and more than 4,000 participating companies.
The acquisition follows an earlier minority investment by Xpansiv in the registry operator and certification body. John Melby, CEO of Xpansiv, stated that the announcement reflects shared goals and close relationship developed with Evident while building energy transition solutions at scale. He emphasized that the acquisition represents a milestone in Xpansiv's diversification strategy to build out its renewable energy and power markets portfolio to more fully support the global energy transition.
Evident's role as an independent certification body and its governance under the I-TRACK Foundation remain unchanged. The company will continue to operate as an independent market facilitator for I-REC(E) and other products under the ongoing oversight of the I-TRACK Foundation and in alignment with the International Attribute Tracking Standard. This governance structure ensures the highest levels of transparency and market integrity.
Dirk Van Evercooren, Chairman of the Board at I-TRACK Foundation, expressed support for Evident's continued growth as an Accredited Code Manager under the foundation's International Attribute Tracking Standard. Users of Evident's infrastructure can remain confident that the robustness, quality, and reliability of its services will be maintained and enhanced through the acquisition.
The timing of this acquisition coincides with sharply growing global demand for renewable energy and RECs, driven by electricity consumption from data centers, electric vehicles, and other sources. The International Energy Agency projects global renewable electricity capacity will double by 2030, adding 4,600 GW, equal to the combined installed power capacity of China, the European Union, and Japan.
Evident has demonstrated significant growth in recent years, with more than 300 million I-REC(E)s issued through September of this year, up from 290 million for the full year of 2024. Since 2015, the company has expanded from supporting a single market to more than 60 countries, serving over 95% of the voluntary renewable energy certificate market outside Europe and North America. In September, the company issued its one billionth I-REC(E).
Nathan Rockliff, Chief Strategy Officer at Xpansiv, noted that the acquisition of Evident underscores Xpansiv's strategy to expand its comprehensive platform through acquisitions and organic growth. Xpansiv's renewable energy network, which also includes leading U.S. compliance registries MIRECS, NC-RETS, NEPOOL, and NYGATS, is integrated via the Xpansiv Connect multi-registry portfolio management system and CBL spot exchange. For more information, visit https://www.xpansiv.com and https://evident.global.