Oyster Renewable Signs 25.2 MW Wind-Solar Hybrid Power Supply Agreement with Kutch Chemical

en.Wedoany.com Reported - On August 24, Indian independent power producer Oyster Renewable signed a binding term sheet with Kutch Chemical Industries to supply 25.2 MW of round-the-clock renewable power to the latter under a captive power plant model. Located in Gujarat, this project marks Oyster Renewable's third project in the state.

The project will feature 25.2 MW of wind capacity and 27.72 MWp of solar capacity, enabling complementary wind-solar power generation. Once operational, it is expected to generate over 108,000 MWh of electricity annually and reduce approximately 85,000 tonnes of CO2 emissions per year.

Siddharth Bhatia, Managing Director and CEO of Oyster Renewable, stated that Gujarat is a key market in the company's growth strategy, and this partnership will provide Kutch Chemical with the reliability of round-the-clock renewable energy. Founded in 2022 and headquartered in Mumbai, Oyster Renewable focuses on developing large-scale wind-solar hybrid renewable energy projects for commercial and industrial customers. The company has previously collaborated with Jindal Stainless on a 315.6 MW wind-solar hybrid project, and with Dalmia Cement on a 31.6 MW hybrid project in Andhra Pradesh.

Established in 2004, Kutch Chemical Industries operates from its facility located between Kandla Port and Mundra Port near Gandhidham in Gujarat, specializing in specialty chemicals including pharmaceutical intermediates, agrochemical intermediates, and dye intermediates.