Thermax Babcock & Wilcox Limited

<p>"</p><p>Energy and environment solution provider Thermax and US-based Babcock &amp; Wilcox (B&amp;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.</p><p> </p><p> 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.</p><p> </p><p> 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.</p><p>"</p>