Greaves Cotton Ltd

Energy and environment solution provider Thermax and US-based Babcock & Wilcox (B&W) have inked a joint venture agreement to manufacture super-critical boilers for the power sector, with an investment of Rs 700 crore. The joint venture looks to set up a manufacturing facility with an annual capacity of 3,000 MW.

Thermax will hold 51 per cent of the equity, which will come from its cash reserves, while Babcock and Wilcox Power Generation Group will hold 49 per cent. The debt-to-equity ratio will be 1:1.

Ms Meher Pudumjee, Chairperson, Thermax, outlining the importance of super-critical boiler technology, said a one per cent rise in the efficiency level of a 300 MW plant would save 15 tonnes of coal per hour. Super-critical units on an average consume 20-30 per cent less coal than sub-critical ones, which in turn results in less carbon emission and lower operating cost.