AI-Powered Greenovation Center in Paro

2026-02-20 - 07:54

Two memoranda of understanding (MoUs) were signed during the Invest Bhutan Summit for the proposed Greenovation Center, a national innovation and green digital infrastructure initiative planned in Shaba, Paro. The first MoU was signed with Rishabh Kumar S, Founding Partner of BizStreet, based in Gurugram, India, who will act as an investor and strategic partner. This MoU focuses on collaboration across both core business units of the Greenovation Center. A second MoU was signed with Stephen Healy, representing Nurture Higher Education Group, headquartered in the United Kingdom with an operational office in Bangkok, Thailand. This partnership is focused specifically on Business Unit 2, which covers innovation, training, and ecosystem services. According to Pema Tshering, the co-founder of Greenovation Center, the MoUs are expressions of interest reflecting investor confidence, particularly in the project’s emphasis on human capital development. The partners are currently working under the MoU framework to finalize legally binding investment and partnership documents. The Greenovation Center is structured around two business units. The first is driven by a 1 MW AI-powered green data center, while the second focuses on innovation, training, and skills development. A key component under Business Unit 2 is the establishment of an AI Academy, which will provide training, certification, incubation facilities, and future commercialization opportunities for products developed by trainees. The promoters noted that investor interest was driven by the project’s strong focus on human capital, distinguishing it from other businesses presented at the summit. Bhutan’s relatively low cost of power, absence of existing AI data centers, and emphasis on skills development were also cited as factors contributing to investor confidence. From the fourth year of implementation, the project plans to employ more than 90 skilled professionals as full-time staff. Greenovation Center is a proposed multi-use innovation campus integrating a 1 MW AI-powered green data center with technology incubation, high-tech training and certification facilities, eco-friendly co-working spaces, wellness amenities, and hostel infrastructure. The project will be developed in Shaba, Paro. The initiative leverages Bhutan’s structural advantages, including abundant renewable hydropower, a naturally cool climate, political stability, and a strong national commitment to sustainability and digital sovereignty. The project aims to position Bhutan as a credible hub for green digital infrastructure while simultaneously building domestic innovation and skills capacity. The two promoters collectively bring over 50 years of senior ICT leadership experience across Bhutan’s public sector, Druk Holding and Investments companies, and international technology firms. Their background spans national digital infrastructure, enterprise systems, and large-scale ICT programme delivery, significantly reducing execution and coordination risks. The total project investment is estimated at Nu 835.3 million (USD 9.24 million), with a business valuation of USD 11.09 million. The proposed investment structure seeks 49 percent equity, equivalent to USD 5.43 million. Capital will be used to develop an AI-enabled green data center, an Innovation Tech Hub, AI and cybersecurity laboratories, and an AI Academy with advanced high-tech training facilities. The campus will be powered by 1.2 MW of solar and renewable energy and will include eco-friendly hostels and sustainable infrastructure. The project site spans approximately eight acres (217,800 square feet), comprising three acres of privately owned land by the promoter and five acres of government land on lease. The location is around five minutes from the Paro–Thimphu highway, approximately 15 minutes from Paro International Airport, and about one hour from Thimphu. Infrastructure advantages include road access, fibre connectivity, access to the hydropower grid, and potential for on-site solar generation. Business Unit 1 focuses on IT and green AI-driven digital infrastructure, including a 1 MW AI-powered green data center, application development in AI, IoT, blockchain, and AR/VR, cybersecurity and data protection labs, digital sovereignty and disaster-recovery services, and technology consulting and digital commerce platforms. Business Unit 2 focuses on innovation, training, and ecosystem services. Components include tech incubation and accelerator programmes, high-tech vocational training and certification, co-working spaces, conference and event facilities, eco-hostels, wellness services, innovation experience centres, and export-support services. Target customers include ESG-driven global enterprises, AI and high-performance computing firms, regional enterprises from India, Bangladesh, and Nepal seeking low-latency green compute services, government and regulated entities requiring data sovereignty, as well as startups, researchers, and innovation communities. Strategically, the project aims to support the export of digital services and compute capacity, retention and repatriation of Bhutan’s sovereign data, creation of a future-ready digital workforce, and alignment with Bhutan’s Gross National Happiness philosophy and carbon-negative identity. Founder projections estimate an internal rate of return of 22.23 percent, a return on investment of 10.54 percent, a payback period of 8.5 years, and a net present value of USD 2.46 million. The project is planned as an eight-acre innovation hub with an initial 1 MW capacity scalable up to 5 MW. The site has been identified and secured, with design and drawings nearing completion. Pre-feasibility work began in September 2025, and the project is awaiting investment to proceed with construction and equipment procurement. The Greenovation Center is positioned as an investable opportunity due to its rare combination of digital infrastructure and sustainability, strong promoter credibility, alignment with national policy priorities, long-term relevance as digital demand and ESG requirements increase, and its potential to position Bhutan in a high-value, non-extractive export sector.