Oyster Renewable Secures ₹1,844 Crore Loan for 342 MW Hybrid Solar-Wind Project
Oyster Renewable secures ₹1,844 crore to build a 342 MW hybrid solar-wind facility in Madhya Pradesh, a milestone for green finance and India’s clean energy targets.
Oyster Renewable Energy Secures ₹1,844 Crore Loan for Hybrid Solar-Wind Project
Landmark Financing Deal
Oyster Renewable Energy has secured a ₹1,844 crore loan from Union Bank of India to finance a 342 MW hybrid solar-wind project in Madhya Pradesh. This represents one of the largest debt financings in the state’s renewable energy sector.
Project Details
The project, developed by subsidiary Oyster Green Hybrid Three, combines co-located solar and wind resources to deliver a more stable, year-round clean energy supply.
It will be connected to India’s Inter-State Transmission System (ISTS) and backed by a long-term power purchase agreement under captive power rules with a leading process industry.
Climate and Energy Benefits
Once operational, the project is expected to:
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Offset nearly 8 lakh tonnes of CO₂ annually
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Contribute towards India’s 2030 renewable energy and decarbonisation goals
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Strengthen energy security for Madhya Pradesh
Economic and Social Impact
The financial closure ensures reliability in equipment procurement, construction, and grid integration. Additionally, the project will:
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Generate skilled local jobs
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Enhance regional economic activity
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Showcase investor confidence in hybrid renewable projects
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