Jovena, Africa50, SN Power, Colas to develop 120 MW hydro project in Madagascar
The leading local industrial player in Madagascar, Jovena, has partnered with Africa50, the pan-African infrastructure investment platform, SN Power, and Colas for the development of a 120 MW hydroelectric power project in Madagascar.
The 120 MW Volobe hydroelectric power plant will be located on the Ivondro River, 40km from Toamasina. Under the terms of the agreement signed, partners commit to co-develop the hydropower plant by acquiring equity in Compagnie Générale d'Hydroélectricité de Volobe (CGHV), the company running the project. Following this transaction, the shareholding of CGHV is comprised of Jovena (40%), Africa50 (25%), SN Power (25%) and Colas (10%).
Considered as a priority in Madagascar's national development program, Volobe seeks to provide reliable and affordable electricity access to over two million Malagasy, thereby contributing to the country's transition towards renewable energy. The power plant will reduce the cost of electricity to the end-user. The project is expected to create up to 1,000 direct jobs during construction. It is expected to be commissioned by 2023.
Country updates
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July 31, 2018
AfDB launches RFEOI for Manakara Port's feasibility study
The AfDB has launched a RFEOI for the feasibility study of the Manakara Port Project PPP. The Republic of Madagascar has received funding from the African Development Bank Group to cov...
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July 27, 2018
The Republic of Madagascar has initiated the tender process calling for advisors to express their interest in the project
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May 07, 2018
The Republic of Madagascar has published a Request for Expressions of Interest (RFEOI) for consultants interested in conducting a feasibility study of the project
The Republic of Madagascar has published a Request for Expressions of Interest (RFEOI) for consultants interested in conducting a feasibility study of the project. Responses must be submitted by 13 July 2018
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January 30, 2018
Construction has commenced, and is expected to be complete in 2020
Construction has commenced, and is expected to be complete in 2020. Mott MacDonald is acting as technical advisor to the lenders, developing a capital investment plan and undertaking environmental assessments
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July 07, 2017
FC for Madagascar airport PPP
Ravinala Airports has finalized its funding arrangements and has commences construction works of the Madagascar’s Ivato international airport in Antananarivo and Fascene international airpo...
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