Jindal Stainless Limited has taken a significant step towards sustainability by acquiring a 33.64% equity stake in a special purpose vehicle (SPV) to develop a 282 MW hybrid renewable energy project.
Strategic Investment for Clean Energy
The SPV, named Oyster Green Hybrid One Private Limited, has been formed in collaboration with Oyster Renewable Energy Private Limited. This initiative aligns with Jindal Stainless’ long-term commitment to transitioning to clean energy and achieving net-zero carbon emissions by 2050.
Investment Details & Project Timeline
- Initial Investment: ₹79.20 crore
- Total Planned Investment: ₹132 crore
- Expected Commissioning: Q3 FY26
- Projected Renewable Power Supply: 700 million units annually
The project aims to reduce dependence on grid-based energy, significantly lowering operational costs while enhancing sustainability.
Financial Performance & Market Impact
Jindal Stainless recently reported an 18% rise in consolidated net profit, reaching ₹590 crore in Q4 FY25. Despite a 0.26% dip in share price, the company remains focused on expanding its renewable energy footprint.
Future Outlook
With this strategic investment, Jindal Stainless is set to strengthen its position in the green energy sector, reinforcing its commitment to environmental responsibility and cost efficiency.
For more updates on corporate sustainability and renewable energy investments, stay tuned! 🚀
