The new company, named Horizon, will be based in the Dimona city in southern Israel and is expected to begin operations next month.
The French engineering group will hold a 50% stake in the JV, with Gefen holding 30% and Rotem 20%.
The JV aims to finance some ten business-incubation projects in three years.
Alstom said that it chose Israel because the country already has one of the world’s most advanced technology industries in renewable and alternative energy sources.
