Xpansiv Acquires Evident to Create Global Renewable Energy Certificate Registry Leader
TL;DR
Xpansiv's acquisition of Evident creates a dominant global REC registry with over 300 GW capacity, giving companies a competitive edge in meeting sustainability goals efficiently.
Xpansiv combines Evident's I-REC(E) and other registries with its NAR and TIGR systems through acquisition, establishing a unified global renewable energy certificate network.
This unified registry platform enhances transparency and integrity in renewable energy markets, accelerating the global transition to clean energy for a sustainable future.
Evident issued over 300 million I-REC(E) certificates this year alone and recently celebrated issuing its one billionth certificate since 2015 across 60+ countries.
The acquisition of Evident Group Limited by Xpansiv Limited creates a dominant global renewable energy certificate registry network combining Evident's international renewable energy for electricity (I-REC(E)) registries with Xpansiv's North American Renewables Registry and Tradable Instrument for Global Renewables Registry. This unified platform now encompasses over 300 GW of capacity and serves more than 4,000 participating companies worldwide, representing a significant consolidation in the renewable energy certification market.
John Melby, CEO of Xpansiv, emphasized that the acquisition reflects shared goals between the companies to build energy transition solutions at scale, focusing on transparent, independent certification and robust infrastructure. The move represents a milestone in Xpansiv's diversification strategy to expand its renewable energy and power markets portfolio to better support the global energy transition. Combined with Xpansiv's exchange, market execution, and portfolio integration capabilities, the enhanced platform aims to simplify clean energy certificate transactions for companies pursuing sustainability goals.
Evident will continue operating as an independent certification body under the governance of the I-TRACK Foundation, maintaining 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, confirmed continued support for Evident as an Accredited Code Manager as it expands its impact and innovation across environmental attribute certificate markets.
The acquisition occurs during a period of explosive growth in renewable energy demand, driven by increasing electricity consumption from data centers, electric vehicles, and other sources. According to International Energy Agency projections, global renewable electricity capacity will double by 2030, adding 4,600 GW—equivalent to the combined installed power capacity of China, the European Union, and Japan. This massive expansion underscores the critical need for robust certification systems to verify renewable energy claims and prevent greenwashing.
Evident's market performance demonstrates the rapid scaling of renewable energy certification. The company issued more than 300 million I-REC(E)s through September of this year, exceeding the 290 million issued throughout all of 2024. Since 2015, Evident has expanded from supporting a single market to operating in more than 60 countries, now serving over 95% of the voluntary renewable energy certificate market outside Europe and North America. In September, the company reached the milestone of issuing its one billionth I-REC(E), highlighting the exponential growth in renewable energy certification.
Nathan Rockliff, Chief Strategy Officer at Xpansiv, described the acquisition as aligning with the company's strategy to expand its comprehensive platform through both acquisitions and organic growth. Xpansiv's renewable energy network, which includes leading U.S. compliance registries MIRECS, NC-RETS, NEPOOL, and NYGATS, integrates through the Xpansiv Connect multi-registry portfolio management system and CBL spot exchange. This integrated approach provides participants with full issuance-to-retirement lifecycle support, enabling more efficient position management and confident trading.
The combination of these registry capabilities creates a more streamlined global infrastructure for renewable energy certification at a time when corporate sustainability commitments and regulatory requirements are driving unprecedented demand. The enhanced platform offers market participants improved access to verified renewable energy certificates across multiple jurisdictions, reducing administrative complexity while maintaining the rigorous standards necessary for credible environmental claims. This consolidation in the registry space could accelerate the global transition to renewable energy by making certification more accessible and trustworthy for companies worldwide.
Curated from citybiz