Jindal Stainless and Oyster Renewable Launch 315.6 MW Hybrid Project
Filing Summary
Jindal Stainless Ltd and Oyster Renewable Energy Pvt Ltd have announced the part commissioning of a 315.6 MW solar-wind hybrid renewable energy project in Agar-Malwa, Madhya Pradesh. The project, with a total investment exceeding ₹2,000 crore, includes a ₹132 crore commitment from Jindal Stainless. It aims to generate approximately 216 MW in Madhya Pradesh and 99 MW in Gujarat. The project integrates bifacial solar modules and Suzlon wind turbines. Jindal Stainless reported an annual turnover of ₹40,182 crore in FY25 and plans to expand its melt capacity to 4.2 million tonnes by FY27.
Jindal Stainless Ltd and Oyster Renewable Energy Pvt Ltd have announced the part commissioning of a 315.6 MW solar-wind hybrid renewable energy project located in Agar-Malwa, Madhya Pradesh. This project marks a significant step in the adoption of clean energy within India’s industrial sector. The project is being developed with a total investment of over ₹2,000 crore, with Jindal Stainless committing ₹132 crore. The project spans two states, with approximately 216 MW of solar and wind power to be generated in Madhya Pradesh and an additional 99 MW in Gujarat.
The financial commitment for this project includes a total investment exceeding ₹2,000 crore, with Jindal Stainless contributing ₹132 crore. The project is designed to support Jindal Stainless’ transition towards a cleaner energy mix. The investment reflects the company’s focus on reducing carbon intensity in its operations. The project is expected to abate around 6.5 lakh metric tonnes of carbon emissions annually once fully operational.
The project integrates bifacial solar modules with tracker systems and advanced Suzlon 3.15 MW wind turbines in a co-located hybrid configuration. This design aims to harness both solar and wind resources, providing a balanced renewable generation profile. The hybrid configuration is intended to improve power availability and deliver stable renewable energy for industrial consumption. The project highlights the role of large-scale renewable infrastructure in driving industrial decarbonisation.
Jindal Stainless reported an annual turnover of ₹40,182 crore in FY25. The company is ramping up its facilities to reach 4.2 million tonnes of annual melt capacity by FY27. Jindal Stainless operates 16 stainless steel manufacturing and processing facilities in India and abroad, including locations in Spain and Indonesia. The company has a network in 12 countries and operates ten sales offices and six service centres in India as of March 2025.
The project is being commissioned in phases, starting with the Madhya Pradesh facility, followed by the commissioning of the Gujarat facility. The phased approach is designed to ensure a smooth transition to renewable energy sources. The project also incorporated local workforce participation and regional supply-chain engagement during construction and deployment, contributing to broader economic activity and community development in the region.
Oyster Renewable Energy Pvt Ltd is focused on developing and operating renewable energy projects tailored to the needs of commercial and industrial consumers across India. The company aims to transform power generation and consumption through hybrid systems that optimize the synergy between solar and wind capacities.
Jindal Stainless is India’s leading stainless steel manufacturer, committed to enhancing its cost competitiveness and operational efficiency through integrated operations. The company focuses on innovation and environmental responsibility, manufacturing stainless steel using scrap in an electric arc furnace to reduce greenhouse gas emissions and enable recyclability without quality reduction.