New Delhi, Sept. 29 -- Oyster Renewable Energy's subsidiary, Oyster Green Hybrid Three, has received a loan worth Rs.1,844 crore to finance its hybrid power project in Madhya Pradesh.

The company has achieved the financial closure from Union Bank of India to build a 342 MW solar energy facility, making it one of the largest debt financings for a hybrid renewable project in the state, Oyster Renewable Energy said in a press release on Monday.

The financing fulfilled by the Union Bank of India has a long tenure of around 20 years. Through it, the company aims to bridge the gap between industrial demand and sustainable energy supply.

"This project demonstrates the future of round-the-clock energy in India, Reliable Green power that fuels ...