Oyster Green Hybrid Three Private Limited, a subsidiary of Oyster Renewable Energy Private Limited, has achieved financial close of its 342 MW solar-wind hybrid power project in Madhya Pradesh. It has secured a project loan of Rs 18.44 billion from the Union Bank of India. The loan tenure is approximately 20 years.
Moreover, the co-located solar-wind project will be linked to the inter-state transmission system (ISTS) grid. The company has inked a 25-year power purchase agreement (PPA) with a process industry unit. The PPA has been inked under captive power provisions.
Earlier in June 2025, Oyster Renewable Energy partnered with Jindal Stainless Limited to develop a 282 MW ISTS-connected wind-solar hybrid project. The project will supply clean energy to Jindal Stainless’s manufacturing operations.
