Groupe Filatex has announced the creation of ENHY through a joint venture with the French firm Hyvity for the development of hydropower in Madagascar.
ENHY aims to strengthen the country's electricity network firstly by focusing on the development and modernization of small and medium-sized hydroelectric installations. By the end of 2028, it plans to increase the current capacity of the Malagasy electricity network by an estimated 100MW, representing a 20% growth.
Over the next decade, ENHY envisions expanding its portfolio even further, with plans to develop an additional 300MW. This would ultimately contribute to a 50% increase in the energy capacity of Madagascar's national grid, compared to its current state.
Supported by Groupe Filatex, ENHY is currently studying two projects in the Antsirabe region. If successful, these projects will generate 20MW within three years, which can later be expanded to 60MW once the regional grid undergoes necessary updates to handle the increased energy capacity.
In addition to the hydroelectric initiatives, ENHY will collaborate with JIRAMA, the state-owned utility and water services company in Madagascar. This partnership aims to upgrade the national electricity grid, with ENHY providing financing for the power increase operations. The focus will be on ensuring the flexibility of the energy network at a controlled and stable cost over time.
“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,” commented Hasnaine Yavarhoussen, CEO of Groupe Filatex. “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: “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.”