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The Phoenix Mills’ subsidiary Pallazzio Hotels & Leisure has invested Rs. 4.73 Cr to acquire 40-45% stake in O2 Renewable Energy XXX Pvt Ltd, a solar power developer set up this year with backing from JSW Neo Energy. This move gives Pallazzio captive user status to consume solar power directly from O2 Renewable’s plant, strengthening its clean energy sourcing while potentially lowering power costs and enhancing sustainability credentials. The deal is structured through equity shares and compulsory convertible debentures, with the acquisition expected to complete within 90 business days.