Oyster Green Hybrid Three, a key player in renewable energy, has secured a significant loan of Rs 1,844 crore from Union Bank of India. This financial boost is allocated for their ambitious 342 MW hybrid power project located in Madhya Pradesh.
The project, which includes solar and wind energy components, marks one of the largest debt financings for such a hybrid initiative in the state. It’s set to connect with the Inter-State Transmission System (ISTS), promising reliable and efficient power distribution.
Oyster has also inked a 25-year power purchase agreement under captive norms with a leading industry unit, aiming to annually reduce emissions by nearly 8 lakh tonnes of CO₂. This move significantly aligns with India’s wider decarbonisation targets.
(With inputs from agencies.)
