Oyster Renewable Energy Pvt. Ltd.’s subsidiary, Oyster Green Hybrid Three Pvt. Ltd., has achieved financial closure for its 342 MW solar-wind hybrid power project in Madhya Pradesh. The company has secured a loan of ₹1,844 crore from Union Bank of India, with a tenure of nearly 20 years, marking one of the largest debt financings for a hybrid renewable project in the state.
The co-located project, connected to the Inter-State Transmission System (ISTS) grid, is backed by a 25-year Power Purchase Agreement (PPA) under captive power norms with a leading process industry unit. Once operational, it is expected to offset approximately 8 lakh tons of CO₂ emissions annually.
Commenting on the milestone, Siddharth Bhatia, Managing Director of Oyster Renewable Energy, said the project underscores the future of round-the-clock green energy in India. He noted that the financing reflects strong confidence in the bankability of hybrid renewable solutions and strengthens Oyster’s portfolio of innovative hybrid and captive power projects.
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