Driving Solar Growth Through Innovation and Policy Reform – Siddharth Bhatia, CEO & Managing Director, Oyster Renewable Energy

How do you assess the current investment climate and regulatory landscape for utility-scale solar projects in India, and what improvements would you like to see to accelerate project development?

The current investment climate for utility-scale solar projects in India is characterized by strong policy momentum and declining technology costs, driven by the government’s 500 GW non-fossil fuel target by 2030. Falling solar PV prices and incentives like viability gap funding and production-linked schemes have attracted significant private investment. However, persistent challenges such as grid infrastructure delays, 12% GST on components, land acquisition bottlenecks, and anti-dumping duties on solar glass continue to slow project execution.

To accelerate development, it is recommended to prioritize streamlined approvals for land and grid connectivity to reduce delays. Revising GST rates on solar equipment would lower upfront costs while expanding low-interest financing options and blended capital models could improve project viability. Strengthening domestic manufacturing through targeted incentives would also reduce reliance on imports and mitigate supply chain risks.

With the growing push towards energy transition, how is your company balancing rapid capacity addition with long-term operational efficiency and financial viability?

At Oyster Energy, we recognize that the global energy transition demands both rapid capacity addition and a steadfast commitment to long-term operational efficiency and financial viability. To balance these priorities, we adopt a multi-pronged strategy. We prioritize robust project planning and streamlined permitting to accelerate deployment, while simultaneously investing in advanced technologies such as digital monitoring, predictive maintenance, and energy storage solutions. These measures not only enhance the reliability and efficiency of our assets but also ensure flexibility in integrating variable renewable energy into the grid, which is essential as solar and wind’s share in the energy mix rises.

Financially, we focus on innovative financing models and risk management frameworks that support large-scale investments without compromising returns. This includes leveraging blended finance, long-term power purchase agreements, and strategic partnerships to ensure predictable cash flows and resilience against market volatility. We also pay close attention to supply chain dynamics and local manufacturing, which help mitigate cost pressures and ensure timely project execution.

Land acquisition and grid connectivity remain persistent challenges in large-scale solar deployment. What innovative strategies or partnerships are being adopted to overcome these barriers?

Land acquisition and grid connectivity are indeed persistent challenges for large-scale solar deployment in India, but several innovative strategies and partnerships are helping to address these barriers. One effective approach is the leasing of government or wasteland for solar projects, which streamlines the acquisition process and avoids lengthy approvals. State governments are increasingly prioritizing the use of non-agricultural land, and some, like Maharashtra, have simplified the conversion of agricultural land for solar use, requiring only notification rather than prior permission. Another notable innovation is the land-leasing model adopted at Karnataka’s Pavagada Solar Park, where land is leased from thousands of local farmers. This model allows landowners to retain ownership while earning steady income, and developers benefit from faster, less contentious acquisition compared to outright purchase.

To tackle grid connectivity challenges, developers and governments are investing in large solar parks with pre-allocated land and integrated grid infrastructure, as seen under the Solar Park Scheme. States like Gujarat, Madhya Pradesh, and Rajasthan offer single-window clearances and dedicated solar energy zones, which expedite both land and grid approvals. Partnerships with land aggregators and digital land record modernization further enhance transparency and efficiency in land transactions.

How is your team leveraging new technologies or digital solutions to improve performance monitoring, O&M, and asset management across your solar portfolio?

Our team at Oyster Energy is leveraging advanced digital technologies to enhance performance monitoring, operations and maintenance (O&M), and asset management across our solar portfolio. We utilize cloud-based platforms that provide real-time, fleet-wide visibility, enabling us to track and optimize the performance of multiple sites from a single dashboard. These systems incorporate smart analytics and automated alerts, allowing us to identify issues remotely, diagnose faults quickly, and prioritize preventive maintenance—reducing downtime and operational costs.

We also employ digital twin technology, which creates a virtual replica of our physical assets. This approach integrates real-time data from IoT sensors and advanced analytics, enabling predictive maintenance, scenario simulation, and performance optimization. The digital twin system helps us detect anomalies, forecast equipment failures, and streamline maintenance schedules, ensuring maximum uptime and efficiency.

Additionally, we use sophisticated performance monitoring software that benchmarks actual output against expected energy yields using reliable, near-real-time data. This ensures transparent performance reporting and allows us to make informed decisions to improve operational efficiency and asset longevity. By standardizing data and integrating these digital solutions, we maintain high reliability and maximize returns across our entire solar asset base.

What recent steps has Oyster Renewables taken to strengthen its role in India’s evolving IPP solar market?

Oyster Renewables has strengthened its position in India’s IPP solar market through strategic hybrid projects and technology-driven partnerships. Recent steps include:

• Expanded wind-solar hybrid projects (e.g., 283.5 MW in Madhya Pradesh via Suzlon collaborations) to deliver round-the-clock renewable energy, integrating solar with wind for optimal grid stability.
• Leveraging cutting-edge technology, such as Suzlon’s 3.15 MW S144 turbines with Hybrid Lattice Towers, to enhance efficiency and cater to industrial demand under captive models.
• Focus on C&I consumers, addressing their need for cost-effective, sustainable power through tailored solutions, including long-term PPAs and hybrid energy supply.
• Scalable partnerships, with repeat orders (e.g., two Suzlon projects in nine months) emphasizing end-to-end execution, from land acquisition to O&M, ensuring faster deployment and operational longevity.