Alstom to form N-power JV with Bhel, NPC

French industrial engineering major Alstom will formalise its tripartite joint venture agreement with state-owned Bhel and Nuclear Power Corporation of India over next few months to help it tap around 45,000 mw nuclear power expected to come up in India over the next 10-15 years.

The company has already entered into an understanding with the other two partners for the proposed joint venture, with each partner expected to hold one-third equity in the venture. “Joint venture tripartite agreement with Bhel and NPCIL has been finalised and is being reviewed by the Atomic Energy Commission. We want the agreement to be finalised as quickly as possible,” said Guy Chardon, senior vice-president, Alstom Power Thermal Products.

Initially, the proposed joint venture will supply turbines to eight units, of 700 mw each, being developed by NPCIL with indigenous technology. The value of these supplies will be around Rs 6,000 crore. It is awaiting final approval from the Atomic Energy Commission after which work will start. Later the joint venture will also look at the nuclear projects being developed in pursuance of the India-US civil nuclear agreement under which 36 units of over 1,000mw each is proposed to be developed at six sites in India with support from the US, Russia and France.

India is developing eight nuclear reactors of 700mw each in the states of the Haryana, Gujarat, Rajasthan and Madhya Pradesh based on heavy water technology. The Bhel-Alstom-NPCIL venture will first focus on these projects