The agreement follows a deal announced in June to sell 25 of Tocardo’s T100 water turbines to Glow Tech Solutions. The patented turbines will be installed in Nepal’s fast-flowing rivers to produce electricity. Together they have a capacity of 2.5MW..
The JV assembly and production facility will produce water turbines for the Nepalese market and for export in the region. Glow Tech Solutions acquired licenses to install water turbines with a total capacity of 2.4MW and is expected to acquire licenses for an additional capacity of 7.4MW. It completed pre-feasibility studies for 100MW.
The Tocardo free-flow in-stream hydro turbines can be compared to ‘underwater wind turbines’: free-standing underwater units, generating energy from sea currents, tidal and river flows. They are easy to install and are low-cost to maintain.
The Dutch Government supports the setting up of the joint venture through its Private Sector Investment (PSI) program. The joint venture agreement was recently signed by Mr. Hans Van Breugel, CEO of Tocardo, and Mr. Subodh Tripathee of Glow Tech, at a ceremony in Kathmandu attended by the Minister for Industry of Nepal, Hon. Anil Kumar Jha, and the Dutch Consul, Mr. Rem Neefjes.
Commenting on the newly established joint venture, Hans Van Breugel said: "The joint venture signed with Glow Tech Solutions represents a significant milestone in the large scale production of the Tocardo turbines. We are delighted to be working with Glow Tech and to be supporting the local economy in Nepal and are confident that together we will deliver the sustainable energy requirements for the region.”
"Tocardo’s technology provides a quick and cost effective solution for the current power shortages in Nepal and in the sub-region, thereby improving the quality of life in these countries,” added AG Sherpa, Chairman of Glow Tech Solutions. “Through this partnership with Tocardo, Glow Tech Solutions now has the opportunity to facilitate the harnessing of the vast hydro-electric power potential in this region.”
