Xpansiv Limited has announced the acquisition of Evident Group Limited, a UK-based registry and certification body, in a move that unites two leading forces in the global renewable energy market. The combination creates one of the world’s largest renewable energy certificate (REC) registry networks, with over 300 GW of registered capacity and participation from more than 4,000 companies.
This acquisition expands Xpansiv’s reach across international renewable energy markets by integrating Evident’s I-REC(E) and related registries with Xpansiv’s North American Renewables Registry (NAR) and Tradable Instrument for Global Renewables Registry (TIGR). It follows a prior minority investment by Xpansiv in Evident and marks a key milestone in the company’s strategy to expand its global renewable energy and power markets platform.
Evident’s governance structure and role as an independent certification body remain unchanged under the oversight of the I-TRACK Foundation. The organization will continue to serve as an independent market facilitator for I-REC(E) and other products aligned with the International Attribute Tracking Standard. This ensures the continued transparency, reliability, and quality that users of Evident’s infrastructure expect.
The acquisition arrives amid record growth in renewable energy demand driven by sectors such as data centers and electric vehicles. The International Energy Agency (IEA) projects global renewable electricity capacity will double by 2030, adding 4,600 GW. Through September 2025, Evident issued more than 300 million I-REC(E)s, surpassing the company’s full-year 2024 total of 290 million, and recently celebrated its one billionth certificate issuance.
Since its founding in 2015, Evident has expanded from serving one market to operating in over 60 countries, accounting for more than 95% of the voluntary renewable energy certificate market outside Europe and North America. Beyond electricity certificates, Evident also operates registries for methane emission reduction and sustainable aviation fuel.
Xpansiv’s broader renewable energy network encompasses major U.S. compliance registries, including MIRECS, NC-RETS, NEPOOL, and NYGATS, all connected via its Xpansiv Connect multi-registry management system and the CBL spot exchange. These tools enable seamless lifecycle management from issuance to retirement, allowing participants to manage renewable energy positions and transact with confidence.
Support: Advisors on the transaction included Marlborough Partners, Deloitte, Clifford Chance, and Ashurst.
KEY QUOTES:
“Today’s announcement reflects the shared goals and close relationship we have developed with Evident as we work to build energy transition solutions at scale, centering on transparent, independent certification and robust infrastructure. It is also a milestone in our diversification strategy to build out our renewable energy and power markets portfolio to more fully support the global energy transition. Along with our exchange, market execution, and portfolio integration capabilities, we’re making it easier than ever for companies to transact clean energy certificates and meet their sustainability goals.”
John Melby, CEO, Xpansiv
“The I-TRACK Foundation is looking forward to continuing to support Evident, as an Accredited Code Manager under the I-TRACK Foundation’s International Attribute Tracking Standard, as it grows its impact, reach, and innovation across vital and trustworthy EAC markets.”
Dirk Van Evercooren, Chairman of the Board, I-TRACK Foundation
“Through the talent and expertise of our fantastic team, Evident has become the pre-eminent trusted partner for sustainable energy certification across more than 60 countries. Thank you to all those within Evident who have made that success possible.”
Ed Everson, Co-Founder, Evident
“The acquisition of Evident, a premier global registry provider in the fast-growing renewable energy markets, underscores our strategy to expand our comprehensive platform through acquisitions and organic growth.”
Nathan Rockliff, Chief Strategy Officer, Xpansiv
