The Sahofika project appears to be emerging from a deadlock. A delegation from the Malagasy Sovereign Wealth Fund (FSM) visited the site to assess its current status. According to information shared on August 7 by local station AZ Radio, FSM Board Chairman Andriniaina Raharinomena, Director General Beni Xavier Rasolofonirina, and Antanifotsy district MP Narson Rafidimanana surveyed the site by helicopter. This visit signals renewed interest in the hydroelectric project, which the government has designated as a priority. After years of stagnation, the Sahofika project may finally be moving toward realization.
Launched following an international tender in 2015-2016, the project aims for an initial capacity of approximately 192 megawatts, with future expansion potential, making it the country’s largest power plant. The electricity generated is intended for the Antananarivo Interconnected Grid, extending to Antsirabe, Fianarantsoa, and Toamasina. For an island where power outages are a daily occurrence and thermal energy costs are high, the stakes are both economic and political.
Project management is handled by the company NEHO (Nouvelle Énergie Hydroélectrique de l’Onive). Originally, the project relied on a French-led consortium. Construction giant Eiffage was to handle studies and infrastructure, while the Paris-based Franco-African utility Eranove was to manage operations for 25 years, with Themis overseeing financing. In 2023, Eiffage withdrew from the consortium.
The state subsequently revived the project. In May 2025, the Malagasy Sovereign Wealth Fund acquired 49% of NEHO’s capital. This move secures the structure and reassures lenders, notably the African Development Bank and the European Union. Eranove remains committed as a key industrial pillar.
On the ground, progress is visible. Since June 2, 2026, work on the access road has begun. The 62.7-kilometer construction project between Ilempona and the Belanitra bridge in the Antanifotsy district has been entrusted to Colas Madagascar, a subsidiary of the Colas group (part of Bouygues). The first twenty kilometers are underway, with completion targeted for June 2027.
Captured & Published at: 2026-08-21 05:38:35 (Madagascar Local Time EAT)
Original Source: https://www.lexpress.mg/2026/08/projet-hydroelectrique-une-delegation.html