ENHY will begin operations through the development and repowering of small and medium-sized hydroelectric installations, adding an estimated 100 MW or 20 percent more capacity to the current Malagasy electricity network by the end of 2028.
In 10 years, ENHY expects to have a portfolio under development of a further 300 MW, eventually adding an extra 50 percent to the energy capacity of Madagascar’s national grid, compared to today.
Supported by Groupe Filatex, ENHY currently has two projects under study in the Antsirabe region, that if successful, will be able to produce 20 MW of within three years, expandable to 60 MW once the regional grid has been updated to allow the significant energy capacity to run through the network.
Further to the development of major hydroelectric projects, ENHY will work with JIRAMA, the state-owned utility and water services company in Madagascar, to support the upgrading of the national electricity grid, financing the power increase operations and working to ensure the flexibility of the energy network at a controlled and stable cost over time.
“For each unit of electricity produced by hydro rather than oil, there is 99 percent less carbon released into the atmosphere” said Hasnaine Yavarhoussen, CEO of Groupe Filatex. “ENHY will allow for the best of Malagasy knowledge and French technical expertise to lead a transformation of the Malagasy energy sector, enabling energy access for millions of Malagasy people. There is no better partner than Hyvity for this exciting joint venture that will radically change the energy production and consumption landscape in Madagascar.”
Simon Collot, CEO OF Hyvity, added that Madagascar has an abundance of hydroelectric capacity, the exploitation of which will enable the development of infrastructures and land-use planning throughout the country.
“Partnering with a local energy leader like the Filatex Group will allow ENHY to combine international expertise with local knowledge, ensuring that our projects will have an impact and contribute to the sustainable development of Madagascar” said Mr Collot.
Currently, 33 percent of Madagascar’s population has a stable and secure access to electricity, and Groupe Filatex is working to support the Government target of increasing energy access to 70 percent by 2030. The creation of ENHY reaffirms Groupe Filatex’s belief in Madagascar as a regional renewable energy powerhouse, using some of the latest technology to unlock electricity access for millions of Malagasy.
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