Oyster Renewable has partnered with MS Agarwal Foundries Pvt Ltd to develop a 48 MWp solar-wind hybrid renewable energy project in Andhra Pradesh. The project will supply renewable power to MS Agarwal Foundries and further expand Oyster Renewable’s presence in the state.
The hybrid project will combine solar and wind generation to provide a more balanced renewable power profile for the industrial consumer. By using two renewable sources, the project is designed to support more consistent power generation compared with relying on a single source.
Once operational, the facility is expected to generate more than 12.2 crore units of renewable electricity annually. It is estimated to help avoid around 86,620 tonnes of carbon dioxide emissions each year. The project will be Oyster Renewable’s third renewable energy project in Andhra Pradesh. The company is developing renewable energy solutions for commercial and industrial consumers, with a focus on hybrid projects that combine solar and wind generation.
Ateesh Samant, COO, Oyster Renewable, said, “India’s energy transition will increasingly be decided on the factory floor, by how reliably clean power can meet the demands of heavy industry. Hybrid projects answer that challenge, because solar and wind complement each other to deliver a steadier supply than either source alone. Our partnership with MS Agarwal Foundries brings that advantage to an energy-intensive sector, and Andhra Pradesh’s forward-looking policy framework has made the state a natural home for this work. We see this as another step in a long-term commitment to the state and to helping Indian industry decarbonise at scale.”
Andhra Pradesh has been expanding its renewable energy infrastructure under the Andhra Pradesh Integrated Clean Energy Policy 2024. The policy provides support for solar, wind and hybrid renewable energy projects and includes provisions for Renewable Energy Zones.
The state has set a target of developing 72.60 GW of renewable energy capacity by 2030. The policy also provides incentives for eligible wind-solar hybrid projects, including a 50 per cent exemption on transmission and wheeling charges for five years from the date of commercial operation, subject to applicable conditions. The Oyster Renewable project adds to the company’s portfolio of hybrid renewable energy assets and its work with industrial customers seeking to increase the use of renewable power.
Oyster Renewable Energy Pvt Ltd operates as an independent power producer focused on developing, investing in and operating renewable energy projects for commercial and industrial consumers. Its portfolio includes hybrid projects combining solar and wind generation to support renewable power supply and reduce emissions.
