Jindal Stainless has acquired equity stake in Oyster Green Hybrid One (Oyster Green), a special purpose vehicle formed in collaboration with Oyster Renewable Energy, to develop a 282 MW hybrid renewable energy project for meeting the power requirements of the Company’s plant.
The Company expects to procure around 700 million units from Oyster Green annually, which would result in significant savings vis-a-vis the power alternatively sourced from the grid. Moreover, power procurement from this plant is in alignment with the Company’s commitment to power future growth through renewable sources of energy and reach net zero carbon emissions by 2050. The Company is committed to invest upto an amount of around Rs 132 crore in Oyster Green towards commissioning of the project, expected by third quarter of the financial 2025-26. In the present tranche, upon achievement of milestone, an amount of Rs 79.20 crore is being invested.
Jindal Stainless (JSL) is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.
