Near Madagascars east coast, a transformative project is taking shape that could impact the lives of millions of Malagasy.
Bisecting the green hills of Toamasina Rural District, the 120 MW Volobe Hydropower Plant will harness the power of the Ivondro River to create renewable energy for over two million citizens.
When operational, the project is expected to increase the countrys electricity generation capacity by approximately 20%, displacing expensive and polluting diesel generation.
It will also trigger estimated cost savings of more than 50% - around 100m euros a year - for Madagascars national utility, Jirama, while providing 1000 direct jobs during the construction phase. The plant will help satisfy base loads, facilitating the integration of intermittent renewable power into the countrys network.
Africa50 acquired a 25% equity stake in Compagnie Gnrale dHydrolectricit de Volobe (CGHV), the project manager, in 2019, bringing along its project development and finance expertise. As the investor and its partners meet for Africa50s general shareholders meeting in Antananarivo, the project will provide a key point of reference in the organisations focus on unlocking investments into African infrastructure and supporting the continents transition to net zero.
