It will be Oyster Renewable’s third project in Gujarat
The 435 MWp project is among the larger solar projects being developed in Uttar Pradesh and will add renewable power generation capacity to the state
The mechanism attempts to address a growing tension in India's renewable build-out
More than 74 per cent of electricity used at public charging stations in FY26 went to heavy-duty chargers serving electric buses, trucks, high-capacity passenger coaches and commercial fleets
The project is being developed by KPI Green Energy under the IPP model and is backed by a long-term power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL)
The company generated 892 million units of green power during FY26, up from 632 million units in FY25
The acquisition has been completed and does not fall under related-party transactions. No government or regulatory approval is required for the transaction
The funds will primarily support the company’s growth plans, including acquisitions
OHM Global Mobility Limited will also operationalise electric buses for public transport in the state and expand its mobility solutions business
The company said shipments under the order began in July 2026
