Oyster Renewable Secures INR 1,844 Cr Loan from Union Bank of India
Oyster has also finalized a 25-year Power Purchase Agreement (PPA) under captive power norms with a leading process industry unit. The project is expected to displace nearly eight lakh tons of CO₂ emissions annually, making a significant contribution to India's decarbonisation targets.
September 29, 2025. By News Bureau
The co-located solar-wind project will be connected to the Inter-State Transmission System (ISTS) grid, ensuring reliable and efficient power evacuation. Oyster has also finalized a 25-year Power Purchase Agreement (PPA) under captive power norms with a leading process industry unit. The project is expected to displace nearly eight lakh tons of CO₂ emissions annually, making a significant contribution to India's decarbonisation targets.
Speaking in this regard, Siddharth Bhatia, Managing Director, Oyster Renewable Energy, said, "Securing financial closure for our 342 MW hybrid project is a defining milestone in Oyster Renewable's journey. This project demonstrates the future of round-the-clock energy in India Reliable Green power that fuels industrial growth while advancing national climate goals. The backing from Union Bank of India highlights the confidence in execution strength and the bankability of hybrid renewable solutions. With this project, Oyster Renewable Energy further strengthens its portfolio of innovative hybrid and captive power solutions that bridge the gap between industrial demand and sustainable energy supply. At Oyster, we remain focused on delivering clean energy infrastructure that sets a new benchmark in India’s energy transition.”
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