Africa50 is set to develop a hydropower plant in Madagascar in a new joint partnership. The partnership with colas, Jovena (Axian Group) and SN Power seeks to improve the lives of the Malagasy people while also supporting the implementation of the government’s socio-economic development agenda.
CEO of Africa50, Alain Ebobissé expressed his optimism at the joint venture, stating that Africa50’s expertise has made it possible to accelerate the execution of such projects to help tap Africa’s vast hydropower potential.
The project, which is expected to be commissioned by 2023, will consist of a 120MW hydropower plant being constructed and operated on the Invodro river under a 35-year concession. In addition, transmission lines will also be constructed and access roads refurbished as well as infrastructure for the neighbouring villages.
During the project, Jovena, will provide institutional support, while Africa50, will bring project development and finance expertise. Additionally, SN Power, will offer its technical and operational knowledge on hydropower infrastructure and Colas, will provide its expertise of major infrastructure construction in Madagascar.
This priority project aims to provide reliable and affordable access to electricity for over two million people, contributing to the country’s transition towards renewable energy as well as reducing the cost of electricity to the end user.
In addition, the project is expected to create up to 1,000 direct jobs during construction.
CEO of the Axian Group Hassanein Hiridjee echoed Ebobissé’s sentiments and reiterated the group’s commitment to deliver positive impact that will improve the lives of the greatest number of people. Furthermore, since energy has been proven to be a fundamental right, the group is driven to provide electricity to virtually the entire island, while protecting the planet and thus offering clean, sustainable and renewable energy.