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).

Siddharth Bhatia | Business Upturn

Jindal Stainless and Oyster Renewable unveil 315.6 MW hybrid power project