Jindal Stainless Partners on 282 MW Wind-Solar Hybrid Project
POWER & RENEWABLE ENERGY

Jindal Stainless Partners on 282 MW Wind-Solar Hybrid Project

Jindal Stainless Ltd, India’s largest stainless steel manufacturer, has joined forces with private-sector power producer Oyster Renewable Energy to develop a 282 MW interstate wind-solar hybrid power project for its own consumption.

The project is strategically located across Bhuj in Gujarat and Agar in Madhya Pradesh. It will combine 82 MW of wind and 135 MWp of solar capacity in Madhya Pradesh, alongside 99 MW of wind capacity in Gujarat, to supply power to Jindal Stainless Ltd’s manufacturing plants.

Jindal Stainless has acquired a 33.64 per cent equity stake in Oyster Green Hybrid One Pvt Ltd, a special purpose vehicle (SPV) created by Oyster Renewable Energy to execute this project.

The initiative is supported by a loan of approximately Rs 1.5 billion (INR 1,517 crore) sanctioned by the Indian Renewable Energy Development Agency (IREDA). Power generated from the plant will be supplied to Jindal Stainless’ facilities under a 25-year group captive power purchase agreement.

This cutting-edge renewable energy facility will significantly reduce Jindal Stainless’ dependence on conventional grid electricity. It is expected to cut carbon dioxide emissions by roughly 700,000 metric tonnes annually — equivalent to planting 30 million trees every year.


Jindal Stainless Ltd, India’s largest stainless steel manufacturer, has joined forces with private-sector power producer Oyster Renewable Energy to develop a 282 MW interstate wind-solar hybrid power project for its own consumption.The project is strategically located across Bhuj in Gujarat and Agar in Madhya Pradesh. It will combine 82 MW of wind and 135 MWp of solar capacity in Madhya Pradesh, alongside 99 MW of wind capacity in Gujarat, to supply power to Jindal Stainless Ltd’s manufacturing plants.Jindal Stainless has acquired a 33.64 per cent equity stake in Oyster Green Hybrid One Pvt Ltd, a special purpose vehicle (SPV) created by Oyster Renewable Energy to execute this project.The initiative is supported by a loan of approximately Rs 1.5 billion (INR 1,517 crore) sanctioned by the Indian Renewable Energy Development Agency (IREDA). Power generated from the plant will be supplied to Jindal Stainless’ facilities under a 25-year group captive power purchase agreement.This cutting-edge renewable energy facility will significantly reduce Jindal Stainless’ dependence on conventional grid electricity. It is expected to cut carbon dioxide emissions by roughly 700,000 metric tonnes annually — equivalent to planting 30 million trees every year.

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?