A strategic realignment of Madagascar’s flagship Volobe Amont hydroelectric project has positioned the initiative for accelerated development, with French energy giant EDF joining the consortium.
The partnership, formalized at Iavoloha Presidential Palace during a state visit by French President Emmanuel Macron, combines EDF’s technical expertise with existing partners AXIAN Group and Africa50 to deliver what could become a transformative energy asset for the Indian Ocean nation.
The revised shareholder structure allocates equal 37.5% stakes to AXIAN Energy and EDF Renewables, with Africa50 holding 25%. Madagascar’s government retains an option to acquire 20% ownership at financial close. This configuration merges local operational knowledge with global engineering prowess EDF brings four decades of African hydroelectric experience, including recent projects in Côte d’Ivoire and Cameroon.
Project milestones suggest tangible progress toward the 120 MW facility’s realization. The International Finance Corporation and World Bank Group are structuring financing packages, while geological surveys have confirmed the viability of the proposed dam site near Tamatave. Community engagement offices now operate in Volobe and Tamatave, implementing resettlement programs that reportedly exceed World Bank environmental and social safeguard standards.
“Volobe Amont represents more than megawatts it’s about establishing an energy sovereignty framework,” said AXIAN Energy CEO Benjamin Memmi during the signing ceremony. His sentiment was echoed by EDF Renewables CEO Béatrice Buffon, who emphasized the project’s alignment with global decarbonization goals. The hydroelectric plant could displace up to 200,000 tons of annual diesel generation when operational, substantially reducing Madagascar’s energy import costs.
The consortium anticipates launching construction tenders within weeks, with financial close expected by mid-2025. Success would mark a rare achievement in sub-Saharan African energy infrastructure only 11% of announced hydro projects reached operation in the past decade according to IEA data.
For Madagascar, where just 33% of the population accesses electricity, Volobe Amont offers more than clean power. The project design includes grid expansion plans that could connect 400,000 additional households, potentially creating an economic ripple effect across agricultural processing and light manufacturing sectors. As global climate financing mechanisms increasingly prioritize such multidimensional projects, this partnership may establish a replicable model for sustainable energy development across the continent.
The coming months will test whether this fusion of international expertise and local partnerships can overcome Madagascar’s complex terrain both geographical and bureaucratic to deliver on its promise. Should it succeed, Volobe Amont could redefine how multilateral energy projects balance technical ambition with grassroots impact in emerging markets.
