Oyster and Jindal to launch 282 MW wind-solar hybrid project

The project is set to integrate a hybrid renewable energy capacity across two Indian states. In Madhya Pradesh, it will combine 82 MW of wind power with 135 MWp of solar power, creating a robust and complementary energy mix.

Oyster Renewable Energy Private Limited announced partnership with Jindal Stainless Limited, India’s largest stainless steel manufacturer. This initiative raises the bar for transition to low-carbon manufacturing and accelerates India’s path toward achieving its net-zero ambitions. At the heart of this partnership lies a cutting-edge 282 MW interstate wind-solar hybrid project strategically located across Bhuj (Gujarat) and Agar (Madhya Pradesh).

The project is set to integrate a hybrid renewable energy capacity across two Indian states. In Madhya Pradesh, it will combine 82 MW of wind power with 135 MWp of solar power, creating a robust and complementary energy mix. Additionally, the project will establish a standalone 99 MW wind power facility in Gujarat. This strategic combination aims to enhance renewable energy generation, improve grid stability, and contribute to India’s clean energy goals.

With this collaboration, Jindal Stainless has acquired a 33.64 percent equity stake in Oyster Green Hybrid One Private Limited, a Special Purpose Vehicle (SPV) promoted by Oyster Renewable. The initiative is backed by a ₹1,517 crore loan sanctioned by the Indian Renewable Energy Development Agency (IREDA) and will operate under a 25-year group captive Power Purchase Agreement (PPA)- directly supplying clean power to Jindal Stainless’ manufacturing operations.

This state-of-the-art plant will significantly reduce dependence on conventional grid electricity. And will help reduce CO2 emissions by about 7lac metric tonnes annually, and equivalent to planting 3 crore trees per year.

Beyond emissions savings, this partnership empowers Jindal Stainless to produce low-carbon “green steel,” enhancing India’s competitiveness in global export markets where sustainability is increasingly a prerequisite. It will also drive local job creation during both the construction and operational phases, supporting livelihoods while fuelling India’s clean energy economy.

Siddharth Bhatia, Managing Director of Oyster Renewable Energy Pvt Ltd., shared his vision, stating, “This partnership is a blueprint for the future of Indian industry. At Oyster Renewable, we believe energy solutions must go beyond cost and capacity- they must create real, lasting impact. Together with Jindal Stainless, we are pioneering a model where clean energy and industrial excellence converge, proving that sustainability and profitability are not opposing goals, but complementary forces driving a stronger, greener India.”

With a sharp focus on commercial and industrial (C&I) sectors, Oyster Renewable is building a future where hybrid energy systems- fusing wind and solar- become the norm. These systems provide reliability, flexibility, lower energy costs, and minimise carbon footprints. The company has set an ambitious goal: to develop 2 gigawatts (GW) of renewable energy capacity by 2030, strengthening its role as a catalyst in India’s clean energy transition.