Thermax Shares Surge on Subsidiary's ₹500 Crore Botswana Order Win

Thermax Limited shares surged following the announcement by Thermax Group that its subsidiary had secured a ₹513 crore order to establish a 600 MW greenfield energy project in Botswana, Southern Africa.  

Thermax Limited stock price rose by 3.66% to ₹5,470 at 12:25 pm IST on the NSE. In an exchange filing, Thermax stated that its wholly owned subsidiary, Thermax Babcock and Wilcox Energy Solutions Ltd. (TBWES), will establish a 600 MW greenfield energy project in Botswana, Southern Africa. 

On Friday, July 5, Thermax & Wilcox Energy Solutions announced that it had secured a ₹513-crore order from a leading industrial conglomerate to supply two boilers for an energy project in Botswana, Southern Africa. 

According to a company statement, Thermax Babcock & Wilcox Energy Solutions will supply two 550 TPH CFBC (circulating fluidised bed combustion) boilers over a period of 23 months. 

This order will support the development of the first phase, a 300 MW power station being established by the customer. TBWES will handle the designing, engineering, manufacturing, testing, supply, supervision of erection and commissioning, and performance testing. 

The power generated from this project is intended for sale to the national utility power company to help meet the growing power demands of the country. 

"We are delighted to win the order to support and accelerate power generation efforts in the region of Botswana. Our expertise in design, engineering and manufacturing boilers focused on lower emissions, reduced operating costs and higher reliability for the power sector through TBWES has led to this win," Ashish Bhandari, Managing Director and Chief Executive Officer of Thermax, said in the statement.

Thermax Babcock & Wilcox Energy Solutions Ltd (TBWES), a wholly owned subsidiary of Thermax, has secured a ₹513 crore order from a leading industrial conglomerate to establish a 600 MW greenfield energy project in Botswana, Southern Africa, according to the statement. 

TBWES offers equipment and solutions for generating steam for both process and power applications by combusting various solid, liquid, and gaseous fuels. They also provide heat recovery systems from turbine/engine exhaust and waste heat recovery from industrial processes. Additionally, TBWES supplies heaters for various applications in the chemical, petrochemical, and refinery segments.