Thermax scouts for a partner to charge up its green energy unit

Mumbai | New Delhi: Thermax is looking to bring in an external investor in its renewable energy subsidiary First Energy and is open to offer over 51% stake in the business, people aware of the development said. Working with advisorsThe Pune-headquartered engineering and capital goods company is working with advisors on a potential stake sale, they said.

Thermax has set its sights on attracting external investors to its renewable energy subsidiary, First Energy. By contemplating a major stake sale, the company aims to overcome operational challenges and elevate its performance levels. First Energy, with its 800 MW capacity, is looking to enhance service delivery, reflecting a growing inclination in the renewable energy domain for partnerships that facilitate expansion and development.

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