The SPV, named Oyster Green Hybrid One Private Limited, has been formed in collaboration with Oyster Renewable Energy Private Limited.
In an exchange filing, the company said this move aligns with its long-term commitment to transition to clean energy and achieve net-zero carbon emissions by 2050. The project is expected to supply approximately 700 million units of renewable power annually, helping the company reduce its dependence on grid-based energy and lower its energy costs.
Jindal Stainless has invested ₹79.20 crore in the current tranche, with a total planned investment of ₹132 crore. The project is expected to be commissioned by the third quarter of FY26.
The transaction has been undertaken on an arm’s length basis, even though Oyster Renewable is a related party due to common promoters.
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Shares of Jindal Stainless closed at ₹641.90 on Monday, down 0.26 percent. The company recently reported an 18 percent rise in consolidated net profit at ₹590 crore for the fourth quarter of FY25.
