282-MW Hybrid Wind-Solar Project for Jindal Stainless

Planned

Indian stainless steel manufacturer Jindal Stainless Ltd will partner with independent power producer Oyster Renewable Energy to develop a 282-MW hybrid wind-solar project to meet the power needs of its production operations. The project will be executed through a special purpose vehicle, Oyster Green Hybrid One Pvt Ltd, majority owned by Oyster Renewable Energy, with Jindal Stainless holding 33.64%. The project is funded by a loan of INR 15.17 billion from the Indian Renewable Energy Development Agency (IREDA). The complex will be installed across two sites: Bhuj in Gujarat and Agar in Madhya Pradesh, with 82 MW wind and 135 MWp solar capacity in Madhya Pradesh, and 99 MW wind capacity in Gujarat. The electricity generated will power Jindal Stainless' manufacturing operations under a 25-year group captive power purchase agreement (PPA), helping offset 700,000 tonnes of CO2 emissions annually and reduce reliance on conventional grid electricity.