Alstom Power is planning to enter into a $500 million joint venture with Bharat Forge to produce high-value, super-critical turbine/generator (TG) sets for thermal and nuclear power plants. The two companies are expected to sign an agreement to set up a manufacturing facility with an estimated capacity of 5,000 MW per year. The move shows Bharat Forge is making an effort to diversify into the manufacture of power equipment. The deal would help Alstom enter into the manufacture of TG sets.
The proposed joint venture is looking for 1,000 acres of land for the production facility and is in talks with the state governments of Maharashtra, Gujarat and Tamil Nadu. When finalized, production would start within three years.