New Delhi: EV charging network company CHARGEZONE on Tuesday said it has secured long-term energy contracts worth more than USD 1 billion (around Rs 10,500 crore) across intercity electric buses, trucks and commercial car fleets.
The contracted demand will support the company’s next phase of expansion, under which it plans to deploy 1,000 new supercharging stations along key national highway corridors, CHARGEZONE said in a statement.
The new charging stations are expected to support more than 15,000 electric vehicles daily across the contracted fleets. “India’s EV charging market is entering a phase where scale will be measured not only by how many chargers are deployed, but by how much energy is delivered and sold through them and how consistently those assets are utilised,” CHARGEZONE Founder and CEO Kartikey Hariyani said.
He said long-term demand contracted across buses, trucks and fleets would allow the company to build new capacity against visible energy consumption rather than waiting for demand to emerge after deployment.
CHARGEZONE has also secured USD 25 million (around Rs 250 crore) in debt financing from Indian banks and plans to raise an additional USD 100 million during 2026-27, it said.
The funds will be deployed towards new supercharging stations, micro-grid infrastructure, energy-management technology and expansion of the charging network.
The planned expansion will add 180 MW of charging capacity, taking CHARGEZONE’s cumulative network capacity from the current 120 MW to 300 MW.
At full deployment, the company expects the expanded network to deliver around 700 GWh of energy annually and support more than 15,000 charging sessions per day. Average network utilisation is projected to rise to around 30 per cent from the current 14 per cent.
CHARGEZONE CFO Manish Madhogaria said the long-term contracts provide greater visibility into future energy revenues and allow the company to deploy capital selectively against infrastructure with a clearer demand profile.
“As we raise the next pool of capital, our focus will be on building the right mix of debt and equity to fund this expansion while maintaining capital discipline,” Madhogaria said.
The company said the expansion is being planned around long-term fleet demand rather than projected EV traffic. Electric buses and trucks operating on defined routes have recurring charging requirements, providing greater visibility into station utilisation before infrastructure is deployed.
CHARGEZONE also plans to integrate renewable energy sources, including solar power generation and battery energy storage systems (BESS), across its charging infrastructure. These systems are aimed at increasing the share of renewable energy used for charging, managing peak power requirements and improving site-level energy resilience.
The company operates an EV charging network across India and the UAE, with more than 15,000 charging points across over 1,200 locations. Its technology platform includes ChargeCloud and AutoCharge for network management and interoperable charging.
