Jindal Stainless acquires 33.64% stake in ₹1,517 crore hybrid renewable project with Oyster
New Delhi:
Jindal Stainless
Limited has acquired a 33.64 per cent equity stake in Oyster Green Hybrid One Private Limited, a Special Purpose Vehicle promoted by
Oyster Renewable Energy
Private Limited, to source power from a 282 MW interstate wind-solar hybrid project.
The ₹1,517 crore project will be developed across Bhuj in Gujarat and Agar in Madhya Pradesh and is backed by funding from the Indian
Renewable Energy Development
Agency (IREDA). The facility will combine 82 MW of wind and 135 MWp of solar in Madhya Pradesh and 99 MW of wind in Gujarat.
The plant will supply power to Jindal Stainless under a 25-year group captive Power Purchase Agreement. According to estimates shared by the company, the project is expected to reduce carbon dioxide emissions by about 7 lakh metric tonnes per year.
'This partnership is a blueprint for the future of Indian industry. At Oyster Renewable, we believe energy solutions must go beyond cost and capacity—they must create real, lasting impact. Together with Jindal Stainless, we are pioneering a model where clean energy and industrial excellence converge, proving that sustainability and profitability are not opposing goals, but complementary forces driving a stronger, greener India,' said Siddharth Bhatia, Managing Director, Oyster Renewable Energy Private Limited.
The partnership is aimed at reducing dependence on conventional grid power and enabling the production of low-carbon '
green steel
' by Jindal Stainless.
Oyster Renewable is focused on the commercial and industrial segment and has set a target of developing 2 gigawatts of renewable energy capacity by 2030. The company is pursuing hybrid energy systems that combine wind and solar to improve reliability and reduce energy costs.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
37 minutes ago
- Hans India
PhysicsWallah's acquisition of Drishti IAS called off: Report
New Delhi: The much-talked-about acquisition of UPSC coaching institute Drishti IAS by edtech unicorn PhysicsWallah has reportedly been called off. The deal was in advanced stages but ultimately fell through due to multiple reasons, according to a report by Entrackr. In April this year, multiple reports said that PhysicsWallah was actively exploring acquisitions to strengthen its position in the civil services preparation segment. The proposed acquisition of Drishti IAS was estimated to be worth between Rs 2,500 and Rs 3,000 crore. Drishti IAS, a well-known name in UPSC coaching, especially among Hindi-medium aspirants, was one of the leading players being considered by PhysicsWallah, along with other institutes like Chaitanya Academy, Rau's IAS Study Circle, and Sarrthi IAS. According to the report, Drishti IAS evaluated the proposal after being approached by PhysicsWallah. However, considering its strong financial performance and independent growth, the company decided not to go ahead with the deal. The report added that Drishti IAS is currently not looking to raise external funds or be acquired. Founded in 1999, Drishti IAS has built a strong presence in the civil services coaching space. In the financial year 2023–24, the Delhi-based institute reported revenue of Rs 405 crore and a profit after tax of Rs 90 crore. The report indicate that the institute is also expected to post healthy growth in FY25. PhysicsWallah, originally focussed on online coaching for engineering and medical entrance exams, has recently been expanding into UPSC and other competitive exams. The acquisition of Drishti IAS was seen as a strategic step to strengthen its offline footprint and diversify its educational offerings -- particularly ahead of its planned stock market debut. However, as of now, both PhysicsWallah and Drishti IAS have not officially responded to the matter. Meanwhile, reports indicate that PhysicsWallah filed its draft IPO papers confidentially in March 2025, aiming to raise around Rs 4,600 crore. If successful, it will become the first Indian edtech unicorn to be listed on the stock exchange.
Time of India
40 minutes ago
- Time of India
Mini Cooper Countryman E JCW Pack launched in India at Rs 62 lakh: Limited to just 20 units!
Mini India has launched the new Mini Cooper Countryman JCW pack in the Indian market. The electric SUV is priced at Rs 62 lakh (ex-showroom) and will be bought in India via the CBU route. The Mini Countryman JCW pack is limited to just 20 units, interested customers can book it online or by visiting their nearest dealership. The booking amount is set at Rs 1.5 lakh and the deliveries will begin from June 10, 2025. The JCW pack brings a performance-inspired styling upgrade to both its exterior and interior. It is available in two colour options—Midnight Black and Legend Grey—the latter distinguished by black sport stripes. Exterior highlights include a checkered motif across the front grille and bumper, referencing Mini's motorsport roots. Blacked-out alloy wheels, enhanced side skirts, a sportier rear spoiler, and door sills complete the look. It also features JCW badges with a checkered flag motif on the C-pillar and near the charging port. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Device Made My Power Bill Drop Overnight elecTrick - Save upto 80% on Power Bill Pre-Order Undo Moving Inside, it gets a JCW-branded steering wheel featuring a boost mode button, along with sports seats, dark upholstery, and red trim accents across the dashboard. In terms of features, it gets a 9.4-inch round OLED infotainment system, Apple CarPlay/ Android Auto, connected car tech, a Harman Kardon audio system, wireless phone charging, powered front seats, a panoramic sunroof, customizable ambient lighting and more. Safety features include multiple airbags, ABS, tyre pressure monitoring, a rear-view camera, and Level 2 ADAS features. Defender's most Towering version: India plans, electric Defender and more | TOI Auto Talking about the battery and e-motor, it gets a 66.45 kWh battery pack paired with an electric motor which puts out 204 hp and 250 Nm of peak torque. It has a WLTP range of 462 km on a single charge. It accelerates from 0 to 100 km/h in 8.6 seconds and has a top speed of 170 km/h. Using a 130 kW DC charger, the battery pack can be charged from 0-80 percent in just under half an hour and a full charge from 0 to 100 percent with an 11kW AC charger takes approximately 6.4 hours. Discover everything about the automotive world at Times of India .
India Today
41 minutes ago
- India Today
AMCA Explained: How India Plans to Build Its Own Stealth Fighter Ft. Sandeep Unnithan
India's next-gen stealth fighter, the Advanced Medium Combat Aircraft (AMCA), just got a massive push from the government with Defence Minister Rajnath Singh clearing an execution model for the jet's design and development. On this episode of In Our Defence, veteran defence journalist Sandeep Unnithan breaks down what this means for the future of Indian airpower, how private players like Tata and L&T could shape the aircraft production ecosystem, and what role the state-owned Hindustan Aeronautics Limited is likely to play. Sandeep also decodes the different generations of fighter aircraft, detailing what makes a fifth-generation jet stand out from the current crop of Indian Air Force jets such as the Rafales, Tejas, Sukhois and Mirages, among others. The episode also features a discussion on India's attempts to develop its own fighter jet engine and how that quest -- unsuccessful so far -- becomes all the more important for the AMCA. Produced by Prateek Lidhoo Sound mix by Rohan Bharti
