Chalet Hotels Limited, a leading player in the hospitality industry, is delighted to announce one more significant step towards a greener and more sustainable future. Today, the company partnered with Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, one of India’s largest integrated power companies, to pioneer a Group Captive Project.
Through this partnership, Tata Power Renewable Energy Limited has committed to generate 13.75 million units of clean energy from renewable sources. For the benefit of its highly valued clients in the hospitality industry, this project seeks to significantly reduce carbon emissions by 9762 tonnes annually (CO2 Baseline Database for the Indian Power sector guideline).
This partnership, established through TP Agastaya Limited, is an important milestone for the renewable energy industry. TP Agastaya Limited is a subsidiary of Tata Power Renewable Energy Limited and brings together TPREL’s expertise in renewable power generation and Chalet Hotels Limited’s dedication to environmental responsibility.
Chalet Hotels Limited acquired a 26% equity shareholding in TP Agastaya Limited under the provisions of the Electricity Act, 2003 and the Electricity Rules, 2005. This joint venture between Chalet Hotels Limited and TPREL highlights a shared commitment to environmental stewardship and the adoption of renewable energy sources. The Power Delivery Agreement reaffirms their commitment to sustainable business practices and lowers their carbon footprint.
Speaking on the association, Ashish Khanna, CEO, Tata Power Renewable Energy Limited, expressed, “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 decarbonisation of the hospitality industry.”
Sanjay Sethi, MD & CEO at Chalet Hotels Limited, spoke about this strategic partnership and stated, “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.”
The partnership between Chalet Hotels Limited and Tata Power Renewable Energy Limited shows the potential for synergy between the renewable energy industry and industries looking to adopt sustainable practices. It offers a convincing example of how companies can cooperate to forge a more environmentally conscious and responsible future.