2 GW by 2028: Oyster Renewables' ₹16,000 Crore Green Energy Push

Mumbai-based Oyster Renewables plans to invest ₹16,000 crore to develop 2 GW of renewable energy capacity in India by 2028, according to Managing Director Siddharth Bhatia.

Of the total investment, ₹4,000 crore will be infused as equity, while the remaining ₹12,000 crore will be raised through debt. The company’s immediate goal is to commission 300 MW by December 1, 2025, marking the launch of its first two operational projects. An additional 450 MW is currently under construction and is expected to be commissioned by year-end.

The initiative stems from an initial 1 GW platform valued at ₹8,000 crore, which the company now aims to scale to 2 GW. Funding has been structured through a Singapore-based entity in partnership with a family office.

As part of its strategy, Oyster Renewables also plans to integrate battery energy storage systems (BESS) equal to 10% of total capacity. This will help optimise grid injection and enhance returns during peak demand periods.

News by Rahul Yelligetti.