Oyster renewable energy, 1,844 CRORE CRORT CREDIT FOR MADHYA PADESH Power project – Details here
Oyster Green Hybrid Three, a subsidiary of Oyster Renewable Energy, received a loan in credit La1,844 Crore to finance the hybrid power project in Madhya Pradesh.
Oyster said in a press release on Monday, Oyster, the company has achieved financial closing from the Indian Union Bank to build a 342 MW solar energy facility, which has made it one of the biggest debt finances for a renewable project in the state.
Project Finance Details
The financing carried out by the Indian Union Bank has a period of about 20 years. The company aims to close the gap between industrial demand and sustainable energy supply.
Siddharth Bhatia, General Manager of Oyster Renewable Energy, said, “This project shows the future of day energy in India, which is the reliable green force that fueled industrial growth while progressing national climatic goals.”
Project Scope and Connection
The project will take place together with a solar wind facility, ie sun and wind production assets will be included. In a statement, the company said that the power produced will be connected to the interpersonal transmission system (ISTS) grid to ensure reliable and efficient power transmission.
Oyster also completed a 25 -year power purchasing agreement (PPA) for electricity produced. This agreement is under captive power norms with a leading process industry unit.
342 MW Hybrid project is expected to provide significant environmental benefits, including the displacement of approximately 8 lakh ton carbon dioxide (CO₂) emissions per year. This objective is compatible with India’s carbohydification goals.
Carbonization efforts in India
India is increasingly effort to reduce carbon footprint. At the latest Mint Sustainability Summit in the New Delhi, Gençari India’s Chief Finance Officer Sachin Bajaj, Uttarakhand, Jammu and Kashmir, Himachal Pradesh and Punjap emphasized the urgency of the interaction of floods and landslides.
A climate risk index by Germanwatch 2025 has shown that India has reported at least 80,000 deaths and economic losses in the last thirty years due to excessive weather events due to climate change, and that more than 10 percent of global deaths.
