Chalet Hotels Acquires 26% Stake in Solar Power SPV
Filing Summary
Chalet Hotels Limited has entered into agreements to acquire a 26% equity stake in Pro-zeal Green Power Fourteen Private Limited. The acquisition involves a cash consideration of INR 26,000 for 2,600 equity shares. Pro-zeal Green Power Fourteen Private Limited, incorporated on June 6, 2025, is focused on setting up a solar power plant in Maharashtra. The acquisition does not involve any related party transactions. The completion of the acquisition is expected within eight months. This strategic move aligns with Chalet Hotels’ interest in renewable energy through a captive arrangement for solar power.
Chalet Hotels Limited has announced the acquisition of a 26% equity stake in Pro-zeal Green Power Fourteen Private Limited. The company entered into a Share Subscription and Shareholders’ Agreement and a Power Purchase Agreement with Pro-zeal Green Power Fourteen Private Limited and Prozeal Green Power Private Limited. This acquisition is related to the establishment of a solar power plant in Maharashtra. As a result, Pro-zeal Green Power Fourteen Private Limited has become an associate of Chalet Hotels Limited.
The acquisition involves a cash consideration for the purchase of 2,600 equity shares, each with a face value of INR 10, totaling INR 26,000. The acquisition does not constitute a related party transaction, and there is no interest from the promoter or promoter group in the entity being acquired. The transaction is conducted at arm’s length.
The scope of this acquisition includes the participation of Chalet Hotels in a captive arrangement to avail solar power. Pro-zeal Green Power Fourteen Private Limited will undertake the implementation, operation, management, and maintenance of the solar power plant project. The entity focuses on the generation and transmission of renewable energy, specifically solar power.
Pro-zeal Green Power Fourteen Private Limited was incorporated on June 6, 2025. As a newly established entity, details regarding turnover and net worth are not available. The company operates within India and is dedicated to the renewable energy sector.
The acquisition is expected to be completed within eight months following the signing of the agreements. Various regulatory and governmental approvals are required for the commissioning of the solar power project. The agreements were signed on December 10, 2025, marking the commencement of the acquisition process.
Pro-zeal Green Power Fourteen Private Limited is a special purpose vehicle focused on renewable energy projects. The company aims to contribute to the renewable energy sector by setting up solar power plants, aligning with the increasing demand for sustainable energy solutions.
Chalet Hotels Limited is engaged in the hospitality sector, focusing on the development and management of high-end hotels in key metro cities in India. The company is expanding its business interests into renewable energy to support its sustainability initiatives and reduce operational costs through captive solar power arrangements.