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Jindal Stainless part-commissions 315.6 MW solar-wind hybrid project with Oyster Renewable in MP

27-Mar-26   10:12 Hrs IST
The project, developed by Oyster Renewable at an investment of over Rs 2,000 crore, includes a committed investment of Rs 132 crore from Jindal Stainless. It spans Madhya Pradesh and Gujarat, with around 216 MW of solar and wind capacity in Madhya Pradesh and an additional 99 MW in Gujarat.

The facility is being commissioned in phases, beginning with the Madhya Pradesh unit, followed by the Gujarat installation. The project is aimed at supporting Jindal Stainless' transition towards a cleaner and more resilient energy mix, underscoring the increasing role of large-scale renewable infrastructure in industrial decarbonisation.

The hybrid project combines bifacial solar modules with tracker systems and advanced 3.15 MW wind turbines supplied by Suzlon Energy in a co-located configuration. The design is expected to enable a more balanced generation profile by leveraging both solar and wind resources, improving power availability and ensuring a more stable supply of renewable energy for industrial use.

Jindal Stainless is India's leading stainless-steel manufacturer of stainless steel flat products, in austenitic, ferritic, martensitic and duplex grades in India used in a variety of industries like automobile, railways, construction, consumer goods, etc.

The company's consolidated net profit jumped 26.56% to Rs 828.79 crore on 6.16% increase in revenue from operations to Rs 10,517.55 crore in Q3 FY26 over Q3 FY25.

Shares of Jindal Stainless fell 2.64% to Rs 705.25 on the BSE.

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