Oyster Renewable Signs Binding Term Sheet with Kutch Chemical Industries for 25.2 MW Hybrid Power Supply in Gujarat

Independent Power Producer (IPP) Oyster Renewable has announced that it has signed a binding term sheet with Kutch Chemical Industries Ltd to supply 25.2 MW of wind-solar hybrid round-the-clock (RTC) renewable power in Gujarat.

A binding term sheet serves as a formal agreement that outlines the key commercial and contractual terms of a proposed project, committing both participating parties to proceed based on those agreed terms.

According to the company's statement, the proposed clean power supply comprises 25.2 MW of wind energy and 27.72 MWp of solar energy, structured under a captive model. This development marks Oyster Renewable's third project within the state of Gujarat.

Once the facility becomes operational, the hybrid solar-wind project is estimated to generate in excess of 1,08,000 MWh of clean power annually. The companies anticipate that this generation will reduce approximately 85,000 tonnes of carbon dioxide emissions each year.

Siddharth Bhatia, Managing Director and Chief Executive Officer of Oyster Renewable, stated that Gujarat remains a key market for the organization. He noted that securing a third project in the state reflects the company's long-term commitment to the region.

"The agreement between Oyster Renewable and Kutch Chemical Industries highlights the growing adoption of captive hybrid power models by industrial consumers. Securing round-the-clock clean energy through wind and solar combinations allows businesses to meet sustainability targets while managing long-term power costs. For independent power producers, expanding regional footprints with repeat projects in states like Gujarat demonstrates steady commercial viability in the renewable energy sector." — Dr. Shishir Gupta, Founder & CEO, StartupLanes