The 342 MW solar-wind hybrid power project is expected to displace nearly 8 lakh tons of CO2 emissions annually, making a significant contribution to India's decarbonisation targets.
FinTech BizNews Service
Mumbai, 29 September 2025 : Oyster Renewable Energy Pvt Ltd.'s subsidiary, Oyster Green Hybrid Three Pvt. Ltd., has achieved financial closure for its landmark 342 MW solar-wind hybrid power project in Madhya Pradesh. The company has secured a project loan of ₹1,844 crore from Union Bank of India with a tenure of around 20 years, marking one of the largest debt financings for a hybrid renewable project in the state.
The co-located solar-wind project will be connected to the Inter-State Transmission System (ISTS) grid, ensuring reliable and efficient power evacuation. Oyster has also finalized a 25-year Power Purchase Agreement (PPA) under captive power norms with a leading process industry unit. The project is expected to displace nearly 8 lakh tons of CO₂ emissions annually, making a significant contribution to India's decarbonisation targets.
Mr. Siddharth Bhatia, Managing Director, Oyster Renewable Energy, said: "Securing financial closure for our 342 MW hybrid project is a defining milestone in Oyster Renewable's journey. This project demonstrates the future of round the clock energy in India Reliable Green power that fuels industrial growth while advancing national climate goals. The backing from Union Bank of India highlights the confidence in execution strength and the bankability of hybrid renewable solutions. With this project, Oyster Renewable Energy further strengthens its portfolio of innovative hybrid and captive power solutions that bridge the gap between industrial demand and sustainable energy supply. At Oyster, we remain focused on delivering clean energy infrastructure that sets a new benchmark in India’s energy transition.”
