Alstom and Druk Green to provide hydropower services in Bhutan
Alstom and Druk Green Power Corporation have signed an agreement to form a joint venture (JV) that will provide repair services for hydro runners and other underwater parts of hydropower plants in the South Asian state of Bhutan.
As part of the agreement, Alstom will hold a 49% stake in the JV, with Druk Green acquiring the remaining share.
The JV will act as a service centre located in the Sarpang Dzongkhag district of Bhutan and employ 62 people in the first year of operation.
Alstom India vice president of thermal and renewable power, Francois Carpentier, said: "The new service centre is a key element in Alstom's growth plans in the region and demonstrates our commitment to serve Bhutan's hydro market and more generally to be close to our customers in the region."
Construction of the service centre is scheduled to be completed within 27 months.
The signing of the agreement between the two companies is expected to support the national drive for investment and employment in the Bhutanese hydropower market, according to Alstom.
The Royal Government of Bhutan, in association with the Government of India, has embarked on a plan to install 10,000MW hydropower capacity by 2020.