Jindal Stainless Partners with Oyster Renewable for Green Power

Jindal Stainless has commenced procuring clean energy from Oyster Renewable Energy's 216 MW hybrid initiative located in Madhya Pradesh as part of the transition to sustainable practices. A power purchase agreement (PPA) was previously signed with Oyster Renewable for solar and wind energy provisions starting in 2024.

The agreement outlines the annual supply of over 700 million units of energy via two hybrid projects totaling 315 MW, costing Rs 2,000 crore, including a Rs 132 crore contribution from Jindal Stainless. Initial supplies from the 216 MW facility are underway, with 450 million units destined for Jindal's facilities in Jajpur, Odisha, and Hisar, Haryana.

Further expansion in Gujarat will contribute an additional 99 MW for operational capacity expected by June. Jindal's MD, Abhyuday Jindal, has expressed this initiative's alignment with company's long-term goal of becoming a net zero entity by 2050, reducing CO2 emissions dramatically while addressing India's industrial energy needs.