Oyster Renewable Energy Secures ₹1,844 Crore Loan for Madhya Pradesh Power Project.

Oyster Renewable Energy’s subsidiary, Oyster Green Hybrid Three, has secured a ₹1,844 crore loan from Union Bank of India to fund its 342 MW hybrid solar-wind power project in Madhya Pradesh. This marks one of the largest debt financings for a hybrid renewable energy initiative in the state, the company announced in a press release recently.

The financing, which carries a long tenure of around 20 years, aims to help bridge the gap between industrial energy demand and sustainable power supply. The project will feature co-located solar and wind generation assets, connected to the Inter-State Transmission System (ISTS) grid to ensure efficient and reliable power transmission.

Siddharth Bhatia, Managing Director of Oyster Renewable Energy, highlighted the project’s significance, stating, “This project demonstrates the future of round-the-clock energy in India—reliable green power that fuels industrial growth while advancing national climate goals.”

Oyster has also finalized a 25-year power purchase agreement (PPA) under captive power norms with a leading process industry, securing long-term demand for the electricity generated.

The hybrid project is expected to contribute significantly to environmental sustainability by displacing nearly 8 lakh tonnes of CO₂ emissions annually, supporting India’s decarbonization efforts.