Chargezone Secures ₹10,500 Crore Energy Contracts to Expand Charging Network

Vadodara-based EV charging network Chargezone has secured long-term energy supply contracts worth over ₹10,500 crore across intercity electric buses, trucks, and commercial vehicle fleets. The guaranteed demand from these commercial operators will anchor the company's next expansion phase, which involves establishing 1,000 new supercharging stations along major national highway corridors.

These contracted fleets are expected to support more than 15,000 electric vehicles daily, providing high predictability regarding energy requirements and charging frequencies prior to infrastructure deployment.

To fund this expansion, Chargezone has secured ₹250 crore in debt financing from Indian banking institutions and plans to raise an additional ₹1,050 crore during 2026-2027. The fresh capital will be allocated toward constructing supercharging stations, building micro-grid infrastructure, upgrading energy management technologies, and expanding overall network capacity. These long-term fleet commitments allow the company to deploy capital against assured energy consumption, significantly improving asset utilisation and station-level economics.

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The planned expansion will add 180 MW of charging capacity, raising Chargezone's cumulative network capacity from 120 MW to 300 MW. At full operational deployment, the network is projected to deliver approximately 700 GWh of energy annually and accommodate over 15,000 daily charging sessions. Furthermore, average network utilisation is expected to increase from the current 14% to approximately 30%.

To manage peak power demand and enhance site-level energy resilience, Chargezone is integrating renewable energy sources, including solar power generation and battery energy storage systems, across its high-speed charging infrastructure.