Setting a Benchmark in Sustainable Hospitality
In an unprecedented move that sets a new standard for sustainable hospitality, Chalet Hotels Limited has entered into a strategic partnership with Tata Power Renewable Energy Limited (TPREL). Together, they aim to generate 13.75 million units of clean energy annually through a Group Captive Project, thereby reducing carbon emissions by approximately 9762 tonnes each year.
A Milestone in Renewable Energy
TPREL has committed to produce clean energy through this collaboration. This project not only aims to significantly cut down on carbon emissions but also serves as a milestone in the renewable energy sector. The project will be managed by TP Agastaya Limited, a special purpose vehicle and subsidiary of Tata Power Renewable Energy.
The Power of Equity and Partnership
Aligned with the Electricity Act of 2003 and the Electricity Rules of 2005, Chalet Hotels Limited has acquired a 26% equity share in TP Agastaya Limited. “This collaborative effort between Chalet Hotels Limited and TPREL exemplifies a shared commitment to environmental stewardship and renewable energy adoption,” reads the Power Delivery Agreement, emphasizing the companies’ dedication to sustainable business practices.
Voices from the Industry
“Generating renewable energy for its properties through a 6 MW AC (8.75 MWp) Group Captive project will make clean energy usage mainstream and also support the decarbonization of the hospitality industry,” stated Mr. Ashish Khanna, CEO, Tata Power Renewable Energy Limited. Echoing this sentiment, Mr. Sanjay Sethi, MD & CEO at Chalet Hotels Limited, said:
“This Power Delivery Agreement not only aligns with our sustainability goals but also supports India’s transition towards cleaner energy sources.”
Future Impact and Sustainability Goals
This pioneering alliance is poised to have a ripple effect across industries interested in adopting sustainable practices. “It’s a win-win for both the environment and our stakeholders,” concluded Mr. Sanjay Sethi.
Your Thoughts Matter!
We’d love to hear your opinions on this groundbreaking partnership. How do you think this alliance will reshape the future of sustainable hospitality and renewable energy? Comment below and let’s kickstart a conversation on making our planet a greener place to live.
