Latest news with #SiddharthBhatia
Time of India
2 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
3 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
3 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.
Business Standard
22-04-2025
- Business
- Business Standard
Jindal Stainless gains after commissioning Odisha's largest captive solar energy plant
Jindal Stainless rose 2.09% to Rs 581.50 after the company successfully installed and commissioned a pioneering solar energy project in collaboration with AB Energia Solutions at its manufacturing unit in Jajpur, Odisha. With a combined capacity of over 30 MWp, this installation is now the largest captive solar energy plant within a single industrial campus in Odisha. The project includes a 7.324 MWp floating solar plant deployed over an internal reservoir and a 23.02 MWp rooftop solar system spread across ten industrial rooftops. Together, these installations are expected to generate approximately 44.3 million units (MUs) of green electricity annuallyenough to power 12,000 to 15,000 householdsand will help reduce CO₂ emissions by 32,208 metric tons each year, equivalent to planting around 1,288 trees. Commenting on the milestone, Abhyuday Jindal, Managing Director, Jindal Stainless, said, Were accelerating our progress toward Net Zero goals by investing in sustainable infrastructure. The commissioning of Odishas largest captive solar plant marks a significant step toward redefining stainless steel manufacturing in India through renewable energy integration. Siddharth Bhatia, Managing Director, AB Energia Solutions, added, This landmark project demonstrates our commitment to sustainable innovation. By transforming unused water bodies and maximizing rooftop spaces, were setting new benchmarks for Indias green industrial future. Jindal Stainless is Indias leading stainless-steel manufacturer of Stainless Steel flat products, in Austenitic, Ferritic, Martensitic and Duplex grades in India used in a variety of industries like automobile, railways, construction, consumer goods, etc.
