EIH Associated Hotels Invests ₹0.46 Cr in Avaada Indsolar

EIH Associated Hotels Ltd has approved an investment of up to ₹0.46 Crores (Rs. 10 per share) to acquire a 26% stake in Avaada Indsolar Private Limited. This strategic investment is driven by the Electricity Act, 2003, which mandates captive users to hold at least 26% equity in the Special Purpose Vehicle (SPV). The investment aims to secure dedicated renewable electricity supply for the company's hotel operations, leading to cost savings and supporting sustainability goals. Avaada Indsolar, a renewable power developer incorporated in 2021, focuses on solar photovoltaic projects. The transaction is expected to be completed by March 2027.