Volobe Amont Project is anticipated to pave the way for operationalization in 2028 which will develop energy transition. The hydroelectric power plant’s launch will give up to two million Malagasy access to reliable and affordable electricity.
Volobe Amont Project will accelerate the economic integration and development of the Volobe region through the repair of the 26 km main road. Additionally, the road will serve as the area’s primary access and the installation of a 150-meter bridge across the Ivondro River.
The launch of this flagship infrastructure project leads a strong signal to the Malagasy government. The project will show commitment and support the country’s development. Additionally, this public-private partnership will have a significant socio-economic impact. Notably, Volobe Amont Project will propagate energy inclusion by making affordable electricity access to 2 million people.
Significance of the Volobe Amont Project to the Economy
Importantly, Volobe Amont Project will accelerate the country’s energy transition with 750 GWh produced renewably per year. Additionally, the project will amount close to 40% of Madagascar’s yearly energy consumption. Furthermore, the project will expedite the surrounding communities’ economic integration and 1,500 direct and indirect jobs creation.
The management has completed a crucial stage in the project’s implementation with the signing of the Power Purchase Agreement (PPA). The agreement is between CGHV and JIRAMA and the Concession Agreement is between CGHV and the Ministry of Energy and Hydrocarbons.
This signing is also an important step in Madagascar’s energy and economic development plan. The signed agreement is prioritized for both the government of the Republic of Madagascar. Additionally, the agreement is an imperative step in the country’s evolution to cleaner renewable energy.
This signing stage was successfully completed thanks to the shareholders’ diverse and complementary expertise, including AXIAN Energy. Importantly, Axian Energy is a prominent contributor to Africa’s energy sector. Axian Energy is partnered by CGHV’s team, who worked alongside the Ministry of Energy & Hydrocarbons. Additionally, the Jirama have provided crucial institutional support throughout.