Oyster Renewable Energy | Business Upturn

Dalmia Cement Bharat to acquire 41% stake in Oyster Green Hybrid for Rs 17.35 crore

Arunika Jain — Wed, 29 Apr 2026 16:49:16 +0000

Dalmia Cement (Bharat) Limited (DCBL), a wholly owned subsidiary of Dalmia Bharat, has announced its decision to acquire a 41% stake in Oyster Green Hybrid Five Private Limited. The acquisition, valued at approximately ₹17.35 crore, involves a Share Subscription and Shareholders’ Agreement (SSSHA) and a Power Consumption Agreement (PCA) signed on April 29, 2026.

The acquisition will be executed in one or more tranches, with DCBL acquiring 26% on a fully-diluted basis. Oyster Green Hybrid Five Private Limited is a Special Purpose Vehicle (SPV) of Oyster Renewable Energy Private Limited. The purpose of this acquisition is to source hybrid power, consisting of 21.6 MW of wind energy and 14 MWp of solar energy, as a captive consumer for DCBL’s plant in Kadapa, Andhra Pradesh.

This strategic move aligns with Dalmia Bharat’s commitment towards achieving RE 100 by 2030 and becoming carbon negative by 2040. The hybrid power sourced will qualify as captive consumption under the Electricity Act and Rules, further enhancing the company’s renewable energy portfolio.

The acquisition is not classified as a related party transaction, and neither the promoter group nor the group companies have any interest in the entity being acquired. The transaction is expected to be completed within four months, subject to customary conditions precedent.

Oyster Green Hybrid Five Private Limited, incorporated on June 5, 2025, is based in Mumbai, Maharashtra, and focuses on setting up hybrid power projects on a captive basis in Andhra Pradesh. As the company was incorporated during FY 2025-26, its turnover for the last three years is not applicable.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Jindal Stainless acquires additional 4.60% stake in Oyster Green for Rs 23.41 crore

Arunika Jain — Fri, 03 Apr 2026 08:52:45 +0000

Jindal Stainless has completed its committed investment in Oyster Green Hybrid One Private Limited by acquiring an additional 4.60% equity stake for ₹23.41 crore. This acquisition marks the fulfilment of Jindal Stainless‘s investment in the special purpose vehicle formed in collaboration with Oyster Renewable Energy Private Limited.

Oyster Green, a subsidiary of Oyster Renewable Energy, is developing a 282 MW inter-state wind solar hybrid captive renewable energy project. The project is designed to meet the power requirements of Jindal Stainless’s plants and is expected to produce approximately 700 million units annually. This initiative aligns with the company’s commitment to power future growth through renewable sources and achieve net zero carbon emissions by 2050.

The acquisition, which is conducted on an arm’s length basis, involves no governmental or regulatory approvals. With this investment, Jindal Stainless has completed its total committed investment of ₹132 crore in the project.

Oyster Green was incorporated on 25th August 2023, with its registered office in Mumbai, India. As the project is still under commissioning, turnover details for the last three years are not applicable.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Jindal Stainless and Oyster Renewable unveil 315.6 MW hybrid power project

Business Desk — Fri, 27 Mar 2026 03:21:45 +0000

Jindal Stainless, a leading stainless steel manufacturer in India, and Oyster Renewable Energy Pvt Ltd have announced the part commissioning of a 315.6 MW solar-wind hybrid renewable energy project in Agar-Malwa, Madhya Pradesh. This initiative marks a significant step in promoting clean energy within India’s industrial sector. The project, developed by Oyster Renewable, involves a total investment of over ₹2,000 crore, with Jindal Stainless committing ₹132 crore. It spans across Madhya Pradesh and Gujarat, with approximately 216 MW of solar and wind power to be generated in Madhya Pradesh and an additional 99 MW in Gujarat. The commissioning is being executed in phases, starting with the Madhya Pradesh facility, followed by the Gujarat site. This project is part of Jindal Stainless’ strategy to transition towards a cleaner energy mix, highlighting the role of large-scale renewable infrastructure in industrial decarbonisation. The hybrid project integrates bifacial solar modules with tracker systems and advanced Suzlon 3.15 MW wind turbines. This design aims to balance renewable generation by leveraging both solar and wind resources, enhancing power availability and ensuring stable renewable energy for industrial use. Abhyuday Jindal, Managing Director of Jindal Stainless, emphasised the importance of sustainability in the company’s long-term growth strategy. He stated that the partnership with Oyster Renewable is crucial in expanding their clean energy portfolio and reducing carbon intensity. Siddharth Bhatia, Managing Director & CEO of Oyster Renewable Energy, highlighted the project’s capability to deliver cost-efficient renewable energy while reducing carbon emissions by approximately 6.5 lakh tonnes annually. The project also emphasises local workforce participation and community integration, contributing to regional economic development. Once fully operational, the project is expected to help Jindal Stainless abate around 6.5 lakh metric tonnes of carbon emissions per year. It underscores the importance of hybrid renewable solutions in providing reliable clean power to energy-intensive industries. Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).