Oyster Renewables plans Rs 16,000 crore investment for 2 GW RE capacity by 2028

Oyster Renewables intends to invest Rs 16,000 crore to build 2 gigawatts of renewable energy capacity in India by 2028. The company will finance the platform with Rs 4,000 crore in equity and Rs 12,000 crore through debt.

The first two projects, totalling 300 MW, are expected to be commissioned by December 2025. An additional 450 MW is under construction and targeted for completion by year-end.

By June 2026, Oyster plans to commission 800 MW, marking a key step toward its 2 GW goal. This phase will involve around Rs 6,000 crore in capital expenditure. Currently, 55 per cent of the planned capacity is under development.

Oyster’s portfolio includes a 282 MW wind-solar hybrid project with Jindal Stainless, spanning Gujarat and Madhya Pradesh. The project operates under a long-term group captive agreement and is backed by a Rs 1,517 crore loan from the Indian Renewable Energy Development Agency. It is estimated to reduce carbon emissions by 700,000 metric tonnes annually.

The company is also developing a 650 MW hybrid wind-solar pipeline across Madhya Pradesh, Gujarat, and Andhra Pradesh to provide a consistent power supply by reducing dependence on a single renewable source.