Jindal Stainless Limited has acquired an equity stake in special purpose vehicle (SPV), Oyster Green Hybrid One Private (Oyster Green) Limited in collaboration with Oyster Renewable Energy Private Limited.
The SPV has been established to develop a 282 MW hybrid renewable energy project aimed at fulfilling the power requirements of Jindal’s plant. The company aims to procure over 700 million units from Oyster Green annually. Further, Jindal Stainless is also set to invest upto Rs 1.32 billion in Oyster Green towards the commissioning of the project by 2025-26. At present, the company will invest Rs 0.79 billion.
