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Africa50, Colas, Jovena and SN Power have signed a shareholders’ agreement for the co-development of the 120MW Volobe hydropower project on the Ivondro River. The agreement signed on 4 October sees the four partners take equity stakes in project developer Compagnie Générale d’Hydroélectricité de Volobe, which has been granted a 35-year concession to design, build and operate the IPP under a public-private partnership with the government of Madagascar.