Chalet Hotels and Tata Power Renewable Energy: Pioneering a Sustainable Future

A Strategic Partnership for a Greener Tomorrow

Chalet Hotels Limited has taken a significant stride towards a more sustainable and environmentally responsible future by partnering with Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power.

This collaboration is set to pioneer a Group Captive Project with far-reaching implications for the environment and the hospitality industry.

Clean Energy Generation Commitment

Tata Power Renewable Energy Limited has committed to generating a substantial 13.75 million units of clean energy from renewable sources as part of this groundbreaking partnership.

The primary objective of this initiative is to make a substantial reduction in carbon emissions, estimated at approximately 9762 tonnes annually, based on the CO2 Baseline Database for the Indian Power sector guideline. By doing so, they are actively contributing to a more sustainable and environmentally friendly future.

TP Agastaya Limited: A Milestone in Renewable Energy

This alliance has taken shape through a special purpose vehicle named TP Agastaya Limited, a subsidiary of Tata Power Renewable Energy Limited. TP Agastaya Limited brings together the extensive expertise of TPREL in renewable power generation and Chalet Hotels Limited's unwavering dedication to environmental responsibility.

Equitable Equity Shareholding

In accordance with the provisions of the Electricity Act, 2003, and the Electricity Rules, 2005, Chalet Hotels Limited has acquired a significant 26% equity shareholding in TP Agastaya Limited.

This collaborative effort solidifies the shared commitment of both companies to environmental stewardship and the adoption of renewable energy.

The Power Delivery Agreement further underscores their dedication to sustainable business practices and a substantial reduction in their collective carbon footprint.

A Shared Vision for Sustainable Hospitality

Ashish Khanna, CEO of Tata Power Renewable Energy Limited, expressed enthusiasm about this collaboration, saying, "We are happy to join hands with Chalet Hotels Limited to generate renewable energy for its properties through 6 MW AC (8.75 MWp) Group Captive project. This association will make clean energy usage mainstream and also support the decarbonization of the hospitality industry."

Sanjay Sethi, MD & CEO at Chalet Hotels Limited, echoed this sentiment, stating, "We are thrilled to partner with Tata Power Renewable Energy Limited on this significant initiative. This Power Delivery Agreement not only aligns with our sustainability goals but also supports India's transition towards cleaner energy sources. With this collaboration to explore 6 MW AC for a Group Captive project, we are delighted to brighten our greener energy horizon. It is a win-win for both the environment and our stakeholders."

A Model of Synergy for a Sustainable Future

This strategic alliance between Chalet Hotels Limited and Tata Power Renewable Energy Limited exemplifies the synergy between the renewable energy sector and industries committed to sustainable practices.

It serves as a compelling example of how businesses can collaborate to create a more environmentally conscious and responsible future. As these two entities embark on their journey towards a greener horizon, they demonstrate their commitment to both environmental stewardship and sustainable business growth.