Oyster Renewable has partnered with MS Agarwal Foundries Pvt Ltd to develop a 48 MWp solar-wind hybrid renewable energy project in Andhra Pradesh.
The project will combine solar and wind generation to supply renewable electricity to MS Agarwal Foundries, supporting the company’s energy requirements with a more balanced renewable power profile.
Once operational, the hybrid project is expected to generate more than 12.2 crore units of renewable electricity annually and help avoid approximately 86,620 tonnes of CO₂ emissions.
The development marks Oyster Renewable’s third renewable energy project in Andhra Pradesh, strengthening its presence in the state’s renewable energy market.
The project comes as Andhra Pradesh continues to expand its renewable energy infrastructure under the Andhra Pradesh Integrated Clean Energy Policy 2024. The policy supports solar, wind and hybrid renewable energy projects, including the development of Renewable Energy Zones.
Eligible wind-solar hybrid projects can receive incentives including a 50% exemption on transmission and wheeling charges for five years from the date of commercial operation, according to the policy.
Andhra Pradesh has set a target of reaching 72.60 GW of renewable energy capacity by 2030, supporting the development of additional clean energy projects across the state.
Ateesh Samant, COO, Oyster Renewable, said hybrid renewable energy projects can provide industrial consumers with a more consistent renewable power supply by combining solar and wind generation.
Oyster Renewable said the partnership with MS Agarwal Foundries will support the decarbonisation of energy-intensive industrial operations while expanding the company’s hybrid renewable energy portfolio.
The project is also expected to contribute to the broader adoption of renewable power among industrial consumers in Andhra Pradesh and support the state’s clean energy transition.
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