Antananarivo, April 23, 2025 – As part of the state visit of the President of the French Republic Emmanuel Macron, EDF Group Executive Director and CEO of EDF Renewables, Béatrice Buffon, signed an agreement with Amine Hiridjee, co-CEO of the AXIAN Group, and Demba Diallo, Director of Project Development at Africa50, to develop, construct and operate a 120MW hydroelectric dam in Madagascar.
The Volobe Dam, located in Tamatave (northeast of the country), is a priority infrastructure project for the Malagasy government. Its electricity production, estimated at 750 GWh per year (which corresponds to approximately one-third of Madagascar's current electricity production), will contribute to the decarbonization of the country's electricity mix. This new energy source will also help secure the country's power grid.
The Volobe project benefits from the support of the Malagasy government, financing provided by international donors, and a guarantee from the World Bank. The project is being developed according to the highest environmental and social standards.
Under the terms of the agreement signed today, EDF holds 37.5% of the project company, Compagnie Générale d'Hydroélectricité de Volobe (CGHV), alongside AXIAN (37.5%), a pan-African group specializing in telecoms, energy, financial services, fintech and real estate, and Africa50 (25%), an investment company created by African countries and the African Development Bank. With its 70 years of experience in hydroelectric projects, EDF will provide technical leadership for the project and provide its expertise across the entire value chain, both upstream (development, feasibility studies, construction) and downstream (operation).
The commissioning of the Volobe dam, scheduled for the end of 2030, will provide the country's national water and electricity company, JIRAMA, with competitive electricity to supply around two million Malagasy people in a context of strong growth in demand.
On the occasion of the signing of this agreement, Beatrice Buffon declared "I am pleased to see EDF's teams harnessing their experience in managing complex industrial projects to develop the Volobe hydroelectric project, which will provide carbon-free, reliable, and competitive electricity. This project illustrates EDF's commitment to supporting the energy transition of its public and private customers, in partnership with leading players and with the support of international donors."