The French energy group EDF has announced that it will invest in a 120 MW hydropower project in Madagascar. The €500m (US$568m) project, planned for construction in Tamatave, 350 km from the capital near the east coast of the island, is one of two major hydroelectric projects in the country and is expected to produce 750 GWh/year of electricity once completed, enough to supply around 2 million Malagasy households. It is planned for commissioning in 2030.
EDF, through its subsidiary EDF Renewables, will acquire a 37.5% stake in the consortium in charge of the project, the Compagnie Générale d'Hydroélectricité de Volobe (CGHV). Alongside EDF, the pan-African group Axian will also hold 37.5%, while the remaining 25% will be held by the investment company Africa50, created by African countries and the African Development Bank.
As of end-2023, hydropower represented 22% of Madagascar’s installed capacity with 192 MW and 43% of its power generation.
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