Chalet Hotels acquires stake in solar power SPV for sustainable energy

Chalet Hotels Limited announced on December 10, 2025, the acquisition of a 26% equity stake in Pro-zeal Green Power Fourteen Private Limited, an SPV established to develop a solar power plant in Maharashtra. The acquisition, valued at INR 26,000 for 2,600 equity shares, marks Chalet Hotels' entry into a captive arrangement for solar power, with the SPV becoming an associate of the company.

The transaction involved a Share Subscription and Shareholders' Agreement, along with a Power Purchase Agreement, both executed today. Pro-zeal Green Power Fourteen Private Limited, incorporated on June 6, 2025, operates in the generation and transmission of renewable energy. Regulatory and governmental approvals are pending, with commissioning expected within eight months.

This acquisition does not involve any related party transactions. This move by Chalet Hotels aligns with a broader industry trend of companies securing renewable energy sources for their operations.