Jindal Stainless Completes Rs 132-Cr Investment for 282 MW Renewable Energy Project

Jindal Stainless has completed an investment of Rs 132 crore in a renewable energy project, aligning with its broader goals of reducing carbon emissions and securing cleaner power for its operations.

The company increased its stake in Oyster Green Hybrid One, a special purpose vehicle (SPV) developed in partnership with Oyster Renewable Energy. This marks the completion of Jindal Stainless' committed investment in the project. The funds will support the development of a 282 MW interstate wind-solar hybrid energy project designed primarily for the company's own consumption across its manufacturing facilities. Once operational, the project will generate approx. 700 million units of electricity annually, significantly contributing to the company’s energy needs.

This initiative is also a major step toward Jindal Stainless’ environmental goals, with the project expected to reduce carbon emissions by around 6.5 lakh tonnes each year.

By using a combination of solar and wind energy, the hybrid model ensures stable energy production, addressing the intermittency issues common with renewable sources. This project is part of Jindal Stainless' larger strategy to transition to cleaner energy while ensuring operational reliability.