Chalet Hotels has entered a partnership with Tata Power Renewable Energy (TPREL) as a step towards a sustainable future, as reported by BWHotelier.com.
TPREL, a subsidiary of Tata Power, aims to produce 13.75 million units of clean energy from renewable sources for Chalet Hotels.
The Group Captive project expects to reduce carbon emissions by roughly 9,700t per year and contribute to a more sustainable future.
TPREL CEO Ashish Khanna said: "We are happy to join hands with Chalet Hotels to generate renewable energy for its properties through the six 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."
Chalet Hotels MD and CEO Sanjay Sethi said: "We are thrilled to partner with TPREL 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 six 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."
TP Agastaya Limited, a subsidiary of TPREL, is a special-purpose vehicle formed via this partnership.
This entity aims to combine TPREL's expertise in renewable power generation with Chalet Hotels’ commitment to environmental sustainability.
Chalet Hotels has purchased 26% equity in TP Agastaya in line with the terms of the Electricity Act, 2003 and the Electricity Rules, 2005.
Furthermore, this power delivery agreement is expected to reinforce sustainable business practices and reduce carbon footprints.
This alliance is said to highlight the potential for collaboration between the renewable energy sector and companies aiming to embrace sustainable practices.
