Chalet Hotels has acquired a 26% equity stake in Pro-zeal Green Power Fourteen Private Limited to support the development of a solar power plant in Maharashtra. This acquisition was formalized on December 10, 2025, through a Share Subscription and Shareholders’ Agreement and a Power Purchase Agreement. The move designates Pro-zeal as an associate company and aligns with Chalet Hotels’ sustainability initiatives.
Strategic Investment in Renewable Energy
Chalet Hotels has made a strategic investment in renewable energy by acquiring a 26% equity stake in Pro-zeal Green Power Fourteen Private Limited. This decision, effective as of December 10, 2025, marks a significant step towards sustainable energy solutions for the company. The investment is facilitated through a Share Subscription and Shareholders’ Agreement along with a Power Purchase Agreement.
Details of the Acquisition
The acquisition enables Chalet Hotels to designate Pro-zeal Green Power Fourteen Private Limited as an associate company. Pro-zeal, incorporated on June 6, 2025, is a special purpose vehicle (SPV) established to set up a solar power plant. The cost of the acquisition is ₹26,000 for 2,600 equity shares at a face value of ₹10 each.
Projected Benefits and Timeline
This captive arrangement will allow Chalet Hotels to avail solar power, aligning with sustainable business practices. The solar power plant project is expected to be completed within 8 months from December 10, 2025, subject to required regulatory approvals. The SPV will be responsible for implementing, operating, and managing the solar power plant.
Source: BSE