Oyster Renewable investing over Rs 350-cr in 60.9 MW wind-solar project in AP
Hyderabad, Nov 12 (TNT): Oyster Renewable Energy Pvt Ltd is developing a 60.9 MW wind-solar hybrid power project in Kadapa district of Andhra Pradesh at an investment of over Rs 350 crore to supply renewable energy to pharmaceutical company Laurus Labs Ltd under a captive power arrangement.
The project comprises 39.3 MWp of solar and 21.6 MW of wind power capacity, the company said in a release on Thursday.
The entire solar capacity of 39.3 MWp has been commissioned and is already generating electricity, while the remaining wind capacity is expected to be commissioned by December 2026.
The commissioned solar facility is expected to generate around 51.51 million units of electricity annually and avoid approximately 35,571 tonnes of carbon dioxide emissions every year.
Once fully operational, the hybrid project is expected to generate about 124 million units of electricity annually and prevent an estimated 88,040 tonnes of CO2 emissions.
The combination of wind and solar power is expected to provide Laurus Labs with a more consistent supply of renewable energy beyond daylight hours and across different seasons.
Oyster Renewable Managing Director and CEO Siddharth Bhatia said hybrid renewable energy solutions were gaining importance among energy-intensive industries as they offered a more reliable supply of clean power.
Laurus Labs Founder and CEO Dr Satyanarayana Chava said increasing the share of renewable energy in the company’s energy mix was a strategic priority.
Through captive solar power investments and renewable energy purchase agreements, the company aims to meet around 50 per cent of its energy requirements from renewable sources by the fourth quarter of FY27.
He said the company was also focusing on reducing energy intensity through process optimisation, improved utility performance and adoption of energy-efficient technologies across its facilities.
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