Oyster Renewable Begins Phase 2 of Agar Malwa Hybrid Project, Part of ₹6,500 Crore Madhya Pradesh Investment

The development follows the commissioning of the 216 MW Madhya Pradesh component of Oyster Renewable’s 315.6 MW hybrid project for Jindal Stainless, while the company plans to develop around 800 MW of hybrid capacity across the state.

Oyster Renewable Energy Private Limited has laid the foundation stone for Phase 2 of its wind-solar hybrid power project in Agar Malwa, Madhya Pradesh, marking the next stage of the company’s renewable energy expansion in the state. The development is part of Oyster Renewable’s broader plan to establish approximately 800 MW of hybrid renewable energy capacity in Madhya Pradesh through an investment exceeding ₹6,500 crore.

The foundation stone was laid by Mahendra Solanki, Member of Parliament from Dewas, in the presence of Madhu Gehlot, MLA from Agar, and Siddharth Bhatia, Managing Director and Chief Executive Officer of Oyster Renewable.

Phase 1: 216 MW Madhya Pradesh Component Already Commissioned

Phase 2 builds on the earlier development of Oyster Renewable’s 315.6 MW solar-wind hybrid project for Jindal Stainless. The project spans Madhya Pradesh and Gujarat, comprising approximately 216 MW of solar and wind capacity in Madhya Pradesh and an additional 99 MW in Gujarat.

The Madhya Pradesh component was taken up for commissioning first and was reported as part-commissioned in March 2026. The overall project involves an investment of more than ₹2,000 crore and integrates bifacial solar modules with tracker systems alongside Suzlon 3.15 MW wind turbines in a co-located hybrid configuration.

The Gujarat component is being developed in phases, with Oyster Renewable commissioning 52.8 MW of wind capacity at Dayapar in August 2026 as part of the 99 MW Gujarat wind development.

Phase 2 Integrates Wind, Solar and Battery Storage

The newly announced Phase 2 marks the next step in Oyster Renewable’s capacity addition in Madhya Pradesh. The development combines wind and solar power generation with battery energy storage systems (BESS), supporting a more consistent and reliable renewable electricity supply.

The company has designed the project for an operational life of more than 30 years. However, the specific capacity and battery storage size of Phase 2 have not been disclosed.

₹6,500 Crore Investment to Support 800 MW Renewable Portfolio

Oyster Renewable plans to develop approximately 800 MW of hybrid renewable energy capacity in Madhya Pradesh, involving an investment of over ₹6,500 crore.

Once the planned development is completed, it is expected to generate more than 4,500 million units (MU) of clean electricity annually. The expansion is also expected to support over 5,000 direct and indirect employment opportunities, creating business and economic opportunities for local communities, contractors and service providers.

The Madhya Pradesh investment programme forms part of Oyster Renewable’s broader growth strategy to reach 3.5 GW of renewable energy capacity.

Oyster Renewable Highlights Madhya Pradesh’s Role in Growth Strategy

Commenting on the milestone, Siddharth Bhatia, Managing Director and CEO of Oyster Renewable, said Agar Malwa’s combination of wind and solar resources makes it one of the strongest hybrid locations in the country.

He added that Phase 2 takes the company closer to delivering firmer and more consistent clean power to commercial and industrial (C&I) customers.

Bhatia also highlighted Madhya Pradesh’s importance to the company’s long-term expansion plans, noting that the planned investment of over ₹6,500 crore in the state will support its journey towards 3.5 GW of renewable energy capacity.

Oyster Renewable Energy is an independent power producer (IPP) focused on developing, investing in and operating renewable energy projects for commercial and industrial consumers across India. Its renewable energy portfolio combines solar and wind generation to support cleaner and more consistent electricity supply.