Africa50, partners to develop hydroelectric plant in Madagascar

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Africa50, partners to develop hydroelectric plant in Madagascar

Africa50, Colas, Jovena and SN Power have signed an agreement in Paris, France to the develop the Volobe hydroelectric plant in Madagascar.

The project will see the development, construction and operation of a 120 MW dam and hydroelectric plant on the Ivondro River, 40 km to the west. of Toamasina, second largest city of Madagascar. It will also include the transmission line, rebuilding and reconstruction of the access road, and infrastructure for the surrounding villages.

The partners will develop the hydroelectric power plant by the acquisition of a stake in the capital of the general Volobe Hydroelectric Power Company (CGHV), which carries this project. At the end This transaction, the capital will be split between Jovena (40%), Africa50 (25%), SN Power (25%), and Colas (10%).

Jovena will provide institutional support, while Africa50 will make provision for development and financing advice and expertise. SN Power, which is a leading company in the hydroelectric field, will make available its technical know-how and operational and Colas, its infrastructure builder expertise on the island of Madagascar.

As one of the government’s priority project, Volobe will provide reliable and cheap access to electricity to two million citizens of Madagascar, thereby contributing to the country’s transition to renewable energy. The structure will also reduce the current cost of electricity.

The project will provide direct employment opportunity for 1,000 people during the construction phase. The commissioning of the plant is scheduled for 2023.

“We are pleased to work alongside the Axian Group and SN Power in this strategic project that will help improve the living conditions of the Malagasy people and support the government’s socio-economic development program. Africa50’s expertise accelerates the implementation of such projects to help Africa take advantage of its vast hydropower potential, “said Alain Ebobissé, Managing Director Of Africa50.

Culled from www.energymixreport.com

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