A team of French engineer Colas, the African Development Bank’s electricity investor Africa50, local firm Jovena and Norwegian hydropower company SN Power will develop the Volobe hydropower plant in Madagascar.
The firms will take over Compagnie Générale d’Hydroélectricité de Volobe (CGHV), the company running the project, with CGHV split four ways: Jovena (40%), Africa50 (25%), SN Power (25%) and Colas (10%).
The 120MW plant will be built on the Ivondro river 40km from Toamasina on Madagascar’s east coast. The project includes construction of a transmission line, access-road refurbishment and infrastructure for neighbouring villages.
Colas said the plant will increase reliable and affordable electricity to two million idigenous people, known as the Malagasy.
Erik Knive, SN Power chief executive, said: "SN Power is pleased to settle the agreements bringing us in position to contribute to the realisation of the project together with the other partners.
"The project will bring clean, sustainable, reliable and flexible energy to Madagascar and will power the development of the country.
"The project is securing optimal utilisation of an important part of the waste hydropower resources of the country to bring affordable energy to the people in line with our strategic goals."
Image: Madagascar (Krishna Naudin /Wikimedia Commons/CC BY 2.0)