EIH Limited Acquires 26% Stake in TP Varun

EIH Limited acquired 26% equity stake in TP Varun Limited, a Tata Power Renewable Energy subsidiary, for ₹2,66,63,950 cash.
The acquisition was mandated under the Electricity Act 2003 and Electricity Rules 2005, requiring captive users to hold at least 26% in the SPV.
The investment enables EIH to procure dedicated renewable solar electricity for hotel operations, supporting cost savings and ESG goals.
TP Varun Limited, incorporated July 20, 2023, is a ground-mounted solar photovoltaic SPV with nil turnover for the last two financial years.