Latest news with #OysterRenewable
Time of India
5 days ago
- Business
- Time of India
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.
Time of India
6 days ago
- Business
- Time of India
Oyster Renewable and Jindal Stainless partner for 282 MW wind-solar hybrid project
Oyster Renewable Energy , an Independent Power Producer (IPP), has partnered with Jindal Stainless , India's largest stainless steel manufacturer, to develop a 282 MW interstate wind-solar hybrid project. The project spans two locations—Bhuj in Gujarat and Agar in Madhya Pradesh—and is aimed at supplying clean energy directly to Jindal Stainless' manufacturing operations. The hybrid project comprises: 82 MW of wind and 135 MWp of solar in Madhya Pradesh 99 MW of wind in Gujarat The initiative will be executed through a Special Purpose Vehicle ( SPV ) named Oyster Green Hybrid One Private Limited, in which Jindal Stainless has acquired a 33.64 per cent equity stake. The project is supported by a ₹1,517 crore loan from the Indian Renewable Energy Development Agency (IREDA) and operates under a 25-year group captive Power Purchase Agreement (PPA). According to estimates, the project will help reduce CO₂ emissions by approximately 700,000 metric tonnes annually, a figure equivalent to the carbon sequestration of around 30 million trees per year. Low-carbon steel production and job creation The partnership enables Jindal Stainless to produce low-carbon stainless steel, a step aligned with global sustainability requirements in export markets. The construction and operational phases are also expected to generate local employment opportunities. Siddharth Bhatia , MD, Oyster Renewable Energy, said, '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.' With a focus on the commercial and industrial (C&I) sector, Oyster Renewable aims to develop 2 gigawatts (GW) of renewable energy capacity by 2030, using hybrid energy systems that combine wind and solar to enhance reliability and reduce carbon emissions.
Time of India
6 days ago
- Business
- Time of India
Oyster Renewable and Jindal Stainless partner for 282 MW wind-solar hybrid project, ET Manufacturing
Advt Advt By , ETManufacturing Oyster Renewable and Jindal Stainless partner for 282 MW wind-solar hybrid projectSynopsis: The project spans two locations—Bhuj in Gujarat and Agar in Madhya Pradesh—and is aimed at supplying clean energy directly to Jindal Stainless' manufacturing operations. Oyster Renewable Energy , an Independent Power Producer (IPP), has partnered with Jindal Stainless, India's largest stainless steel manufacturer, to develop a 282 MW interstate wind-solar hybrid project. The project spans two locations—Bhuj in Gujarat and Agar in Madhya Pradesh—and is aimed at supplying clean energy directly to Jindal Stainless' manufacturing operations.82 MW of wind and 135 MWp of solar in Madhya Pradesh99 MW of wind in GujaratThe initiative will be executed through a Special Purpose Vehicle ( SPV ) named Oyster Green Hybrid One Private Limited, in which Jindal Stainless has acquired a 33.64 per cent equity stake. The project is supported by a ₹1,517 crore loan from the Indian Renewable Energy Development Agency (IREDA) and operates under a 25-year group captive Power Purchase Agreement (PPA).According to estimates, the project will help reduce CO₂ emissions by approximately 700,000 metric tonnes annually, a figure equivalent to the carbon sequestration of around 30 million trees per partnership enables Jindal Stainless to produce low-carbon stainless steel, a step aligned with global sustainability requirements in export markets. The construction and operational phases are also expected to generate local employment opportunities. Siddharth Bhatia , MD, Oyster Renewable Energy, said, '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.'With a focus on the commercial and industrial (C&I) sector, Oyster Renewable aims to develop 2 gigawatts (GW) of renewable energy capacity by 2030, using hybrid energy systems that combine wind and solar to enhance reliability and reduce carbon emissions.
Mint
22-04-2025
- Business
- Mint
Retail investors' favourite renewable energy stock recovers 30% in 9 sessions. Is it in your portfolio?
Small cap multibagger stock: Suzlon Energy's share price has made a strong comeback in recent sessions, propelling it to trade above levels not seen in over 2 months. The retail investors' favorite small-cap stocks have gained 30% in just 9 trading sessions after hitting a 10-month low of ₹ 46.15 on April 07. Suzlon Energy share price in the previous trading session crossed the ₹ 60 level, which was last seen at the end of January. The recovery was driven by steady order wins and improved overall sentiment in the Indian stock market, prompting investors to accumulate the stock at more attractive levels During the March quarter, retail investors have increased their holdings in the company as their stake stood at 55%, up from 54.6% in the December-ending quarter. Despite this stellar recovery, the stock is still trading 31% below its September peak of ₹ 85.85 apiece. Technical analysts suggest that the stock could potentially continue its upward trend in the near term. Anshul Jain, Head of Research at Lakshmishree Investment and Securities, said, "Suzlon has formed a triple bottom near the key support of 50.6 and broken out of its lower high–lower low structure by crossing the 59.5 swing high." "This bullish breakout came with volumes over 2x the 50-day average, hinting at institutional participation. The immediate resistance is placed at 65.6, which is also the logical target for the current setup. As long as it holds above 59.5, momentum traders can ride the move toward 65.6," he further added. On April 17, Suzlon secured a 100.8 MW EPC wind power order from Sunsure Energy, marking the latter's maiden foray into wind energy. The project is set to be executed in the Jath region of Maharashtra. Under the agreement, Suzlon will supply 48 state-of-the-art S120 wind turbine generators (WTGs) with Hybrid Lattice Towers (HLTs), each rated at 2.1 MW capacity. In early March, the company secured its third order—204.75 MW—from Jindal Green Wind 1 Pvt. Ltd., a subsidiary of Jindal Renewables. This partnership now represents Suzlon's largest Commercial & Industrial (C&I) order, with a cumulative capacity of 907.2 MW. Currently, C&I customers account for 59% of Suzlon's total order book, which has reached a record 5.9 GW—the highest in the company's history. In February, the company secured a repeat order of 201.6 MW from Oyster Renewable, further cementing its leadership in India's wind energy sector. With this latest order, Suzlon's partnership with Oyster Renewable has grown to 283.5 MW in Madhya Pradesh within just nine months. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions. First Published: 22 Apr 2025, 02:43 PM IST
