Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Colas    RE   FR0000121634

COLAS

(RE)
Delayed Quote. Delayed Euronext Paris - 01/24 11:35:14 am
136.4 EUR   -0.15%
01/14ANALYST VIEW : U.S. and China on brink of deal, markets underwhelmed
RE
01/07Middle East jitters hit Wall Street
RE
01/07CALM MARKETS = GOOD NEWS FOR INVESTORS : analyst
RE
SummaryQuotesChartsNewsCalendarCompany 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Colas : Africa50, Colas, Jovena and SN Power announce partnership to develop Volobe hydropower project in Madagascar

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/07/2019 | 12:12pm EST

The project entails the construction and operation of a 120 MW hydropower plant on the Ivondro river, 40 kilometers from Toamasina, to be operated under a 35-year concession. It also includes the construction of a transmission line, refurbishment of the access road and infrastructure for the neighbouring villages.

Under the terms of the agreement signed today in Paris, partners commit to co-develop the hydropower plant by acquiring equity in Compagnie Générale d'Hydroélectricité de Volobe (CGHV), the company running the project. Following this transaction, the shareholding of CGHV is comprised of Jovena (40%), Africa50 (25%), SN Power (25%) and Colas (10%).

Jovena, a leading local industrial player, will provide institutional support while Africa50, the pan-African infrastructure investment platform, will bring its project development and finance expertise; SN Power, a leading player in hydropower infrastructure, will bring in the technical and operational knowhow; and Colas, its expertise as a major infrastructure construction company operating in Madagascar.

Considered as a priority in Madagascar's national development program, Volobe seeks to provide reliable and affordable electricity access to over two million Malagasy, thereby contributing to the country's transition towards renewable energy. The power plant will reduce the cost of electricity to the end user. The project is expected to create up to 1,000 direct jobs during construction. It is expected to be commissioned by 2023.

During the signing ceremony, Hassanein Hiridjee, CEO of the Axian Group, said « We are proud today to partner with Colas, SN Power and Africa50, through Jovena, to deliver a project as decisive as the Volobe hydroelectric plant. At Axian, our activities are guided by our commitment to deliver positive impact that will improve the lives of the greatest number of people. We believe that access to energy is a fundamental right, and this drives our ambition to provide electricity to virtually the entire island, while protecting our planet and thus offering clean, sustainable and renewable energy.»

Benjamin Memmi, CEO of Jovena, added « Volobe is a perfect illustration of the positive impact we want to have on the development of our country. Jovena invests in projects that can modernize Madagascar's network and offer more reliable, sustainable and accessible energy solutions to all Malagasy. »

Alain Ebobissé, CEO of Africa50, explained « We are pleased to work alongside the Axian Group and SN Power in this strategic project which seeks to improve the lives of the Malagasy people while also supporting the implementation of the government's socio-economic development agenda. Africa50's expertise enables to accelerate the execution of such projects to help tap Africa's vast hydropower potential.»

Erik Knive, CEO of SN Power, added « SN Power is pleased to settle the agreements bringing us in position to contribute to the realization of the project together with the other partners. The project will bring clean, sustainable, reliable and flexible energy to Madagascar and will power the development of the country. The project is securing optimal utilisation of an important part of the waste hydropower resources of the country to bring affordable energy to the people in line with our strategic goals. »

Fabrice Monnaert, Major Projects Manager, Colas, stated 'Volobe is an important project for the Colas Group, which has been present on the island for nearly 70 years. In addition to the upgrading of Antananarivo and Nosy Be airports, the completion of the Volobe-Amont project will allow Colas to further its contribution to the development of Madagascar.'

Disclaimer

Colas SA published this content on 07 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2019 16:11:02 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on COLAS
01/14ANALYST VIEW : U.S. and China on brink of deal, markets underwhelmed
RE
01/07Middle East jitters hit Wall Street
RE
01/07CALM MARKETS = GOOD NEWS FOR INVESTO : analyst
RE
2019COLAS : Line 1 of the Abidjan metro network
PU
2019COLAS : CP Wattway Pack
PU
2019COLAS : PR Colas - Results at the end of September 2019
PU
2019COLAS : 3rd quarter earnings
CO
2019WALL STREET STOCK EXCHANGE : New closing high for Dow, Nasdaq
RE
2019Wall St. looks 'pretty good' at record highs -Colas
RE
2019COLAS : Africa50, Colas, Jovena and SN Power announce partnership to develop Vol..
PU
More news
Chart COLAS
Duration : Period :
Colas Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends COLAS
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Managers
NameTitle
Frédéric Gardès Chief Executive Officer
Olivier Roussat Chairman
Olivier Bouygues Director
François Bertière Director
Colette Lewiner Independent Director
Sector and Competitors