Thermax to invest $900K more in alternative energy firm First Energy

By PTI
11 August, 2016

Thermax today said it plans to make an additional investment of up to Rs 6 crore in First Energy Pvt Ltd (FE), alternative energy solutions company.

“The board at its meeting held on August 10, 2016, has approved to make an additional investment in First Energy Private Limited (FE), the alternative energy solutions company in which the company has acquired 33 per cent stake in July 2015,” Thermax Ltd said in a filing to BSE.

“It is proposed to make an additional investment of up to Rs 6 crore in FE. The said investment is expected to be completed during the financial year 2016-17,” the filing said.

First Energy’s brand Oorja, a combination of a ‘micro- gasification’ stove and biomass-based pellet fuel, is adopted by several customers as a substitute to fossil fuels such as LPG and diesel, the company had earlier said.

Like this report? Sign up for our daily newsletter to get our top reports.


Leave Your Comment
Thermax to buy 33% stake in alternative energy company First Energy

Thermax to buy 33% stake in alternative energy company First Energy

TEAM VCC 2 years ago
Engineering solutions provider in the area of energy and environment Thermax has inked a deal to buy 33 per cent stake in Pune-based alternative energy solutions...
IDFC Alternatives-owned Vector Green Energy acquires First Solar’s India assets

IDFC Alternatives-owned Vector Green Energy acquires First Solar’s India assets

Keshav Sunkara 3 weeks ago
IDFC Alternatives Ltd’s second infrastructure fund has entered into a definite agreement with First Solar Power India Pvt. Ltd, and other affiliates of the US-based...
Helix Investments invests in waste heat recovery firm M.E Energy

Helix Investments invests in waste heat recovery firm M.E Energy

Madhav A Chanchani 1 year ago
Private equity firm Helix Investments has picked up a significant minority stake in thermal engineering company , officials told VCCircle. The Pune-based firm, set up by...
No Comments

Thermax to invest $900K more in alternative energy firm First Energy

Powered by WordPress.com VIP