Oyster Renewables plans to invest ₹16,000 crore in 2-GW capacity by 2028
Oyster Renewables
plans to invest ₹16,000 crore in 2 gigawatt (GW) of renewable energy capacity in India by 2028, its Managing Director Siddharth Bhatia told ETEnergyWorld in an exclusive interaction.
'We are about to commission close to 300 MW capacity by December 1, 2025. These are our first two projects that will come online. With that, we have another 450 MW of capacities under construction and development expected to come online by the end of the calendar year,' he said.
He added that the total investment size on a 1-GW platform is about ₹8,000 crore, which the company is going to scale up to 2 GW. Of this amount, ₹2,000 crore would be equity investment and the balance would be debt.
'As far as our investments are concerned, these are located in Singapore and we have tied up with a family office who also are partners with us and the investment has been lined up for the entire 2-GW platform,' he said.
Out of India's 500 GW of renewable energy capacity target by 2030, the renewable energy independent power producer is planning to contribute 2 GW by 2028, representing nearly one per cent of the national target.
'We are looking at just under one per cent of India's total capacity by 2030, which is still a sizable contribution for us,' he mentioned.
He added that the firm also plans to introduce a battery energy storage system of about 10 per cent of the total capacity, which would get stored and then be injected into the grid, or perhaps sold on the exchange at peak hours to ensure better realisation.
'One of the first projects that we signed was close to about 300 MW capacity of hybrid wind and solar on the ISTS network, which will deliver 100 MW of RTC power,' he said.
Bhatia said that the company is looking at opportunities on the AI side of things, which would help them become more efficient on operations and maintenance. 'We have also incorporated robotics in our projects,' he said.
He said that the company is young, and currently focused on ensuring that it achieves the targets that it has set out.
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