press release


Mauritius, 22nd June 2018 – The African Energy Forum celebrated this year its 20th birthday. This yearly event gathers leaders of the African energy sector as to impulse its growth and dynamism. The AEF facilitates both new partnerships and the identification of new innovative business opportunities. This year AEF was focused on energy transition and the promotion of renewable energies. Jovena, a subsidiary company of Axian, places itself as a major actor of oil distribution and energy production in Madagascar. This was Jovena’s first participation to the forum together with one of its affiliate, the CGHV (Compagnie Générale d’Hydroélectricité de Volobe. This event presented itself as a unique opportunity to promote the Volobe project deployed in the Toamasina region. Developed by the CGHV, with the initial promoters Jovena and Colas (Colas Madagascar and Colas projects), this renewable 120MW hydropower project will have an output of 720 GWh/year. By 2022 this project will be able to replace hydrocarbon (oil & diesel) electricity production generating significant savings for the JIRAMA, the malagasy state-owned utilities in while reinforcing power production in Tamatave’s whole region. With more than €300M invested in the project the Atsinanana region will benefit from major economic spinoffs for about four years. A particular focus has been placed and will continue to be placed on limiting adverse impacts on both the environment and local populations. The CGHV announces today with great pride the signature of a MoU with two new shareholders in the Volobe project: Africa 50 and SN Power. Africa 50 is an investment fund specialized in vital infrastructures projects. Africa50 is owned by 25 governments, two central banks and the African Development Bank, with more expected to join. SN Power is a Norwegian investment company focusing on acquiring, developing constructing, and operating hydropower assets. The expertise and know-hows of those two stakeholders will facilitate the Volobe project’s success. In the next few weeks, the CGHV and its new partners will meet both the Energy and Oil Ministry as well as the JIRAMA, as to negotiate a Power Purchase Agreement and a concession contract. Signing these new contracts appears today as a true opportunity to ease the project’s development and to get Volobe’s hydropower plant up and running by 2022. The whole of project Volobe’s stakeholders are happy to display with serenity their ambition for a greener, environmentally respectful and sustainable energy on the Malagasy territory.

Read the press release CGHV