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Madagascar: Government of Madagascar gets Euro 4 million from African Development Fund for Sahofika hydropower project

Madagascar: Government of Madagascar gets Euro 4 million from African Development Fund for Sahofika hydropower project

AFRICA
ABIDJAN, Ivory Coast, May 23, 2020/ -- The African Development Fund has approved a 4.02 million euro loan with a grant component to finance the Government of Madagascar’s 30 million euro equity investment in the Sahofika hydropower project, which will generate affordable, clean energy benefitting some 8 million people. The Sahofika project is located on the Onive River, 100 km southeast of the capital Antananarivo. It entails the construction of a 205 MW hydroelectric power plant on a Build-Own-Operate-Transfer basis and includes the construction and rehabilitation of 110 km of access roads and construction of a 75 km, 220 kV transmission line. Once commissioned, the Sahofika project is expected to contribute to the avoidance of 900,000 tons of CO2equivalent annually. The government...