SN Power strengthen their foothold in Africa

In October SN Power signs the shareholders’ agreement with Africa50, Colas and Jovena to develop the Volobe Hydropower project in Madagascar. 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 neighboring villages. Financial close for the project is targeted for mid-2021.

2019 was an active year for SN Power. Besides optimizing the operation of the existing more than 1,500 MW of assets, a new CEO was appointed and the Management Team was reorganized.
The organization was restructured and specialist competence and additional business development capacity recruited to enable the company to meet a growth target of 150 equity MW per year.

Continuing the efforts of earlier years, SN Power achieves several milestones in 2019:

  • In April SN Power was appointed by IFC as specialist developer for the Mpatamanga project in Malawi (350 MW).
  • In June SN Aboitiz Power (SNAP) completed the Free and Prior Informed Consent (FPIC) consultation process for the Alimit project in the Philippines (140MW).
  • In July SN Power and IPS signed project agreement with the Governments of Burundi, Democratic Republic of Congo (DRC) and Rwanda for the Ruzizi III project (147 MW). In October the security agreements were signed.
  • In 2019 Aboitiz Power was introduced as partner for the Middle Yeywa project in Myanmar (735 MW).