Indian developer Oyster Renewable has signed a binding term sheet with Kutch Chemical Industries to supply 25.2 MW of wind and 27.72 MWp of solar power on a round-the-clock basis in Gujarat, its third project in the state.

August 24, 2026 — energynewsSectors Wind EnergyOnshoreSolar EnergyPhotovoltaicThemes Investments & TransactionsContractsCompanies Oyster Renewable Energy Pvt LtdKutch Chemical Industries LimitedJindal Stainless LimitedCountries India

Oyster Renewable has signed a binding term sheet with Kutch Chemical Industries Limited to supply renewable power on a round-the-clock (RTC) basis. According to a company statement, the project combines 25.2 MW of wind and 27.72 MWp of solar capacity in the state of Gujarat, India, under a captive structure. This marks Oyster Renewable's third project in the state.

Annual output estimated at over 108,000 MWh

Once operational, the hybrid solar-wind facility is expected to generate more than 108,000 MWh of clean power annually, according to Oyster Renewable. The agreement reflects growing industrial demand across Gujarat for firm, round-the-clock renewable power under the captive model, as manufacturers look to de-risk energy costs while meeting sustainability commitments.

Siddharth Bhatia, Managing Director and CEO of Oyster Renewable, said Gujarat remains a key market in the company's growth trajectory and that this third project in the state reflects its long-term commitment to the region. The partnership with Kutch Chemical to deliver 25.2 MW of round-the-clock solar-wind power would help avoid nearly 85,000 tonnes of CO2 annually, according to remarks attributed to Bhatia by the company.

A first large-scale hybrid project in Madhya Pradesh and Gujarat

In March 2026, stainless steel manufacturer Jindal Stainless and Oyster Renewable Energy Pvt Ltd carried out the partial commissioning of a 315.6 MW solar-wind hybrid project in Agar-Malwa, in the state of Madhya Pradesh. Oyster Renewable developed the project with a total investment exceeding $241 million (2,000 crore rupees), including a committed investment of $15.9 million (132 crore rupees) from Jindal Stainless.

The project spans Madhya Pradesh and Gujarat, with approximately 216 MW of solar and wind capacity in the former state and 99 MW of wind capacity in the latter, according to data provided by Oyster Renewable.

52.8 MW commissioned in Dayapar for Jindal Stainless

In August, Oyster Renewable commissioned 52.8 MW of wind capacity in Dayapar, in the state of Gujarat, a project developed for Jindal Stainless Limited comprising 16 turbines. This phase represents an investment of approximately $46.4 million (385 crore rupees), out of the $87.3 million (725 crore rupees) earmarked for the full 30-turbine wind facility in Gujarat.

With the agreement signed with Kutch Chemical, Oyster Renewable is strengthening its round-the-clock renewable power portfolio in Gujarat, a state where the company has now carried out three separate projects tied to the local manufacturing industry.