PAINTING THE INDUSTRY GREEN

How Thermax Onsite Energy Solutions (TOESL) is helping Indian industries decarbonise operations with reliable green utilities and smart partnerships BY ASHISH SINHA

- ASHISH SINHA

GREEN utilities are no longer a futuristic buzzword for industrial India. Under the leadership of Khushboo Bhatia, its chief executive officer, Thermax Onsite Energy Solutions (TOESL) has emerged as a reliable force helping industries transition to sustainable operations without getting bogged down in capex challenges. Bhatia, who leads TOESL as its CEO, says the company has grown nearly six-fold since 2020, thanks to a confluence of factors. "The right business model, growing sustainability pressure, and our ability to deliver green utility solutions at scale have all come together," she says.

The engine behind this success is TOESL's Build-Own-Operate (BOO) model, where clients don't need to invest upfront in green utility infrastructure. Instead, TOESL does the heavy lifting—building, funding, and operating energy systems like boilers, chillers, and water treatment units. "It's essentially a plug-and-play sustainability model," Bhatia explains. "We take care of the investment, construction, operations, and even the fuel supply chain. Clients just consume the green utility as a service."

This low-risk model has resonated strongly with clients across sectors. From green steam and heat to chilled water, treated water, power, and zero liquid discharge (ZLD) systems, TOESL now operates more than 40 active projects. “We've evolved from offering single utilities to becoming a one-stop sustainability partner,” Bhatia said.

Decarbonisation Partner

Big names like Nestlé and Perfetti Van Melle have signed multi-plant agreements, and TOESL's ambitions are already crossing borders. “We've started expanding in Southeast Asia. There's clear demand for clean utilities, especially as global value chains push for greener operations,” she added.