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Eranove has signed a 30-year concession agreement with the government of Mali to finance, develop, build and operate the Kenié hydroelectric dam
The finances required for the project amount to US$124mn, said the government. The hydroelectric dam is located on the Niger River, 35 km east of the capital Bamako and has an installed capacity of 42MW. It can produce around 175GWh, stated officials from the Malian government.
The agreement was signed between the government and a subsidiary of Eranove called Kenié Energie Renouvelable.
Eranove Group CEO Marc Albérola said, “Hydroelectric power is one renewable energy source that is in abundant supply in Africa. As part of the regional integration of power transmission networks, hydroelectricity can play a key role in increasing power generation capacity. And we mustn’t forget micro and pico hydroelectricity either. These small hydroelectric facilities can supply power to villages or groups of villages in remote areas far away from interconnected transmission systems. Hydroelectricity is a renewable and competitive source of power in terms of production costs, and could even play a role in the financial balancing of power sectors and in meeting demand. This would prove hugely beneficial both for local populations and for regional industrial development.”
According to the current project schedule, construction is due to begin in 2016 and the dam would be put into operation in 2020 It will then be operated under a concession agreement by Kenié Energie Renouvelable, whose shareholders will also include IFC InfraVentures.