# Thermax seeks green energy partner

> Thermax may sell majority stake in renewable unit to partner for growth.
- Title: Thermax seeks green energy partner · The Economic Times
- Summary: 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…
- Keywords: thermax, first energy, renewable energy, green energy, renewable portfolio, operational challenges, seeks, green, energy, partner, The Economic Times
- Source: The Economic Times — https://economictimes.indiatimes.com/industry/renewables/thermax-scouts-for-a-partner-to-charge-up-its-green-energy-unit/articleshow/134799584.cms
- Author: Kalpana Pathak and Mohit Bhalla
- Published: 2026-10-08T19:08:00+00:00
- Read time: 1 min
- Topics: thermax, first energy, renewable energy, green energy, renewable portfolio, operational challenges
## 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.
## Key takeaway

Thermax is open to selling over 51% of its renewable energy subsidiary First Energy to address operational challenges and scale its green portfolio.