Madagascar receives 100 million USD in support for Sahofika Hydropower

The Board of Directors of the African Development Bank has approved a Partial Risk Guarantee (PRG) of 100 million USD to support the Sahofika hydro-power project in Madagascar, which will add 205 MW of renewable energy generation capacity to the national grid, benefitting over 2 million people. The Bank’s support will include risk mitigation to the project developers and the debt providers by supporting the payment obligations of JIRAMA, the state-owned off-taker. The project will enable Madagascar to displace up to 90% of thermal energy generation, to unlock its great hydro-power potential, and to expand its energy mix to more renewable sources.

Source : https://bit.ly/2tg79o2