Jindal Stainless and Oyster Renewable Advance Industrial Decarbonisation with 315.6 MW Hybrid Power Project
National, 27 March 2026: Jindal Stainless Limited, India's leading stainless steel manufacturer, and Oyster Renewable Energy Pvt Ltd announced the part commissioning of a 315.6 MW solar-wind hybrid renewable energy project in Agar-Malwa, Madhya Pradesh. The project marks a significant milestone in advancing clean energy adoption within India's industrial sector.The project, developed by Oyster Renewable and involving a total investment of over ₹2,000 crore, includes a committed investment of ₹132 crore from Jindal Stainless. It spans Madhya Pradesh and Gujarat, with ~216 MW of solar and wind power to be generated in Madhya Pradesh and an additional 99 MW in Gujarat. The project is being commissioned in phases, starting with the Madhya Pradesh facility, followed by the Gujarat facility.
The design integrates bifacial solar modules with tracker systems alongside Suzlon 3.15 MW wind turbines in a co-located hybrid configuration. This design enables a more balanced renewable generation profile by harnessing both solar and wind resources, improving power availability and supporting the delivery of stable renewable energy for industrial consumption.
Abhyuday Jindal, Managing Director, Jindal Stainless Limited, stated that the partnership with Oyster Renewable represents an important step in strengthening the company's clean energy portfolio and reducing the carbon intensity of its operations.
Siddharth Bhatia, Managing Director & CEO, Oyster Renewable Energy Pvt Ltd, noted that the project reflects the company's capability to develop and execute large-scale hybrid infrastructure. The project is expected to enable Jindal Stainless to abate around 6.5 lakh metric tonnes of carbon emissions per year.
Jindal Stainless had an annual turnover of INR 40,182 crore (USD 4.75 billion) in FY25 and is ramping up its facilities to reach 4.2 million tonnes of annual melt capacity in FY27. It has 16 stainless steel manufacturing and processing facilities in India and abroad and a worldwide network in 12 countries, as of March 2025.
Jindal Stainless manufactures stainless steel using scrap in an electric arc furnace, which involves lower greenhouse gas emissions and enables recyclability.
About Jindal Stainless:
India's leading stainless steel manufacturer, Jindal Stainless, had an annual turnover of INR 40,182 crore (USD 4.75 billion) in FY25 and is ramping up its facilities to reach 4.2 million tonnes of annual melt capacity in FY27. It has 16 stainless steel manufacturing and processing facilities in India and abroad, including in Spain and Indonesia, and a worldwide network in 12 countries, as of March 2025. In India, there are ten sales offices and six service centres, as of March 2025. The company's product range includes stainless steel slabs, blooms, coils, plates, sheets, precision strips, wire rods, rebars, blade steel, and coin blanks.
About Oyster Renewable Pvt Ltd:
Oyster Renewable Energy Pvt Ltd is an Independent Power Producer (IPP) committed to developing and operating renewable energy projects, with a focus on Commercial and Industrial (C&I) consumers across India.
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.