Jindal Stainless Begins Sourcing Power from Oyster Renewable Energy

Jindal Stainless has started sourcing clean power from Oyster Renewable Energy's 216 mega watt hybrid project in Madhya Pradesh.

In 2024, the stainless steel maker had signed a power purchase agreement (PPA) with Oyster Renewable for hybrid power (solar and wind) supply.

As part of the agreement, Oyster Renewable will supply over 700 million units annually from two hybrid energy projects totalling 315 MW being set up at a cost ₹2,000 crore which includes ₹132 crore contribution from Jindal Stainless.

Oyster Renewable has started supplying power from 216 MW capacity project developed in phase one. Total 450 million units power will be supplied to Jajpur (Odisha) and Hisar (Haryana) facilities of Jindal Stainless Ltd (JSL), a joint statement said.

An additional 99 MW hybrid capacity is being set up in Gujarat which is expected to be operational by June this year. The project will supply approximately 250 million units green power to JSL plants.

Speaking to PTI, JSL MD Abhyuday Jindal said the move adds to the efforts being taken to make JSL a net zero company by 2050. Large-scale renewable collaborations will play a crucial role in accelerating industrial decarbonisation across India.

In FY25, JSL achieved a 14% year-on-year reduction in Co2 emissions, avoiding approximately 3,18,248 metric tonnes (MT) of carbon footprint compared to FY24.

For FY26, Jindal said the company's focus is to build on this momentum by increasing the usage of green power.

As of October-December 2025, the share of RE was over 50% in overall imported power consumption by JSL.

Siddharth Bhatia, MD & CEO, Oyster Renewable Energy said this project will not only deliver stable, cost-efficient, renewable energy to JSL but also help it with reducing carbon emissions by approximately 6.5 lakh tonne per year.

Bhatia said his company would continue to explore more such collaborations in the C&I (consumer and industrial) segment as industrial demand for firm clean energy accelerates in India.

With an annual turnover of over ₹40,000 crore, Jindal Stainless is India's largest stainless steel manufacturer, and among top five globally.

Oyster Renewable Energy Pvt Ltd is as an Independent Power Producer (IPP) focused on catering to C&I customers.