RE Veteran Parag Sharma Floats IPP Firm ‘Resolven’, Targets 10 GW by 2030

Renewable energy veteran Parag Sharma has announced the launch of Resolven, a new independent power producer (IPP) platform focused on building and operating clean energy infrastructure in India.

The company aims to address complex challenges in the renewable energy sector while delivering long-term value for customers, partners and investors. Resolven will focus on developing, building and operating energy assets using a combination of disciplined capital, local execution capabilities and a problem-solving approach.

"I am excited to announce the beginning of yet another chapter in my RE journey. This evening, we launched brand Resolven, an IPP that aspires to be trusted for solving complex challenges and delivering long-term value, while shaping India’s clean energy transition. Our mission will be to develop, build, and operate clean energy infrastructure by combining disciplined capital, deep local execution, and a problem-solving mindset, delivering reliable outcomes for customers, partners, and investors," he said. 

Support from Zelstra & EQT

Resolven begins its journey with the backing of Zelstra India’s portfolio and will be supported by investment from EQT, the Swedish private equity firm that has been actively investing in India’s renewable energy sector. Sharma previously worked with EQT during his tenure at O2 Power, where he served as Founder and Chief Executive Officer.

According to Sharma, the company is targeting 10 GW of renewable energy capacity by 2030, spanning traditional renewable segments as well as adjacent opportunities. The growth strategy will combine both organic development and inorganic expansion.

Resolven already has a team in place and a development pipeline of 2.7 GW, providing an initial foundation for scaling operations.

“We want to do it right and do it together,” Sharma said, emphasizing a focus on performance excellence, ownership, teamwork and adaptability as the company moves forward.

Decades of Experience

Sharma brings more than two decades of experience in the power and infrastructure sector. Prior to launching Resolven, he briefly served as Chief Executive Officer at Zelstra India and earlier founded renewable energy platform O2 Power. He has also held senior roles including Chief Operating Officer at ReNew Power and Director at KPMG.

With the launch of Resolven, Sharma said the company intends to build a long-term platform that can support partners in their decarbonisation journeys and contribute to India’s clean energy transition.