From The Economic Times · Kalpana Pathak and Mohit Bhalla · · 1m
Thermax seeks green energy partner
Thermax may sell majority stake in renewable unit to partner for growth.
In brief
Thermax may sell majority stake in renewable unit to partner for growth. Thermax is open to selling over 51% of its renewable energy subsidiary First Energy to address operational challenges and scale its green portfolio. Originally reported by The Economic Times.
Thermax seeks partner for green energy arm
Thermax is looking to bring in an external investor for its renewable energy subsidiary First Energy and open to selling over 51% stake in the business.
First Energy's renewable capacity and challenges
First Energy has an installed renewable energy capacity of around 800 MW and paid-up equity capital of about ₹646 crore but faces execution challenges.
Operational hurdles and potential partner
FEPL could have done better but for right-of-way issues and working with various state governments, Thermax says it needs a partner to address operational challenges.
“FEPL could have done better but for the right-of-way issues and working with various state governments”
Thermax's strategic move for growth
Thermax may sell majority stake in First Energy to partner for scaling renewable portfolio and addressing operational challenges.
The one thing
Thermax is open to selling over 51% of its renewable energy subsidiary First Energy to address operational challenges and scale its green portfolio.
