EDF joins the Volobe Amont hydroelectric project in Madagascar

EDF Rejoint le projet hydroélectrique Volobe Amount

A strategic partnership for Madagascar’s energy transition

The Volobe Amont hydroelectric project, essential for Madagascar’s energy development, reaches a major milestone with EDF’s official entry into the consortium. This alliance, sealed on April 23, 2025 and confirmed by the signing of amendment No. 3 of the concession contract at the Iavoloha Palace in the presence of the President of the Republic of Madagascar and his counterpart, the President of the French Republic, marks a decisive turning point for this major project.
EDF joins AXIAN Energy and Africa50 in this structuring project.
EDF joins AXIAN Energy and Africa50 in this strategic project. The new shareholding structure is distributed as follows: AXIAN Energy (via NEA Volobe) and EDF Renouvelables each hold 37.5%, while Africa50 retains 25%. The Malagasy government will take a 20% stake at financial close.
By working with EDF, we benefit from crucial technical and financial expertise. Drawing on its experience on the African continent, notably with the Nachtigal dam in Cameroon, EDF is strengthening the project’s technical soundness and inspiring greater confidence among international investors.
En collaborant avec EDF, nous bénéficions d’une expertise technique et financière cruciale. Fort de ses expériences sur le continent africain, notamment avec le barrage de Nachtigal au Cameroun, EDF renforce la solidité technique du projet et inspire une plus grande confiance aux investisseurs internationaux.

Concrete steps towards completion

We are now entering the operational phase. The geological and hydrological studies, now finalized, confirm the technical viability of the site. The call for tenders for the construction work will be launched in the coming weeks, with the aim of starting work in 2026.

On the financial front, our negotiations with the International Finance Corporation (IFC) and the World Bank are progressing well. Increased support from lenders, particularly for concessional debt, should improve the overall financial terms of the project.

A multidimensional impact for Madagascar

With a planned capacity of 120 MW, Volobe Amont will cover around 15% of the country’s electricity needs. This infrastructure will generate major economic spin-offs: the creation of 3,000 jobs during construction, and 200 permanent positions during operation.
We are also integrating an ambitious social and environmental dimension. Our local offices in Tamatave and Volobe ensure that we are firmly rooted in the local area. Measures to protect biodiversity and programs to relocate the populations concerned comply with the most demanding international standards.

A vision shared by all parties

« The signing of these agreements marks a major step forward for Volobe Amont, and testifies to the determination of all stakeholders, both public and private. Bringing together technical expertise, financial resources and an ongoing dialogue with the local community is a powerful lever for Madagascar’s economic development. » – Rémy Huber, Managing Director of CGHV
« EDF’s arrival in the Volobe Amont consortium confirms the strength of our shared vision: to offer Madagascar reliable, sustainable and sovereign energy. This strategic partnership confirms our commitment to building infrastructures that serve the development and well-being of the population. » – Benjamin Memmi, CEO, AXIAN Energy
« I am pleased to see EDF’s teams mobilizing their experience in piloting complex industrial projects to develop the Volobe hydroelectric project, which will provide decarbonized, reliable and competitive electricity. This project illustrates EDF’s vocation to support the energy transition of its public and private customers, in partnership with leading players and with the support of international donors. » – Béatrice Buffon, EDF Group Executive Director and CEO of EDF Renewables
« We are delighted to welcome EDF as a strategic partner on the Volobe project, which we have developed to an advanced stage jointly with the Axian Group. Thanks to EDF’s first-rate industrial expertise, we will be able to accelerate the project’s final development phase and deliver high-quality infrastructure for Madagascar. » – Demba Diallo, Africa 50 Project Development Director.