Oyster Renewable on Thursday said the company has signed a binding term sheet with Kutch Chemical Industries for supply of 25.2 MW hybrid round-the-clock clean power in Gujarat.A binding term sheet is essentially a formal agreement that sets out the key commercial and contractual terms of the proposed project and commits both parties to proceed on those agreed terms.In a statement, Oyster Renewable said it has signed a binding term sheet with Kutch Chemical Industries Ltd to supply 25.2 MW wind solar hybrid round-the-clock (RTC) renewable power comprising 25.2 MW wind and 27.72 MWp solar under a captive structure.This marks Oyster Renewable's third project in the State, the company said.Once operational, the hybrid solar-wind facility is estimated to generate over 1,08,000 MWh of clean power annually, reducing approximately 85,000 tonne of CO2 emissions each year.Oyster Renewable MD & CEO Siddharth Bhatia said Gujarat continues to be a key market for the company and its third project in the state reflects our long-term commitment to the region.Oyster Renewable is as an Independent Power Producer (IPP).Published on August 20, 2026