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Thanks to SACE and SIMEST, the Ravenna-based company strengthens its position in Madagascar and builds a hydroelectric plant to supply energy to the capital, Antananarivo
A dual operation for the CDP Group’s Export and Internationalisation hub, in support of the development in Madagascar of Tozzi Green, a Ravenna-based company operating in the renewable energy sector.
SIMEST has taken a 49% stake in the Malagasy subsidiary, investing 6.5 million euros, while SACE has guaranteed a loan of 10 million euros, granted to Tozzi Green by Crédit Agricole Cariparma. Thanks to these new resources, a 22 MegaWatt run-of-river hydroelectric plant will be built, which, by 2019, will provide energy to about 200 thousand families in the capital, Antananarivo.
By means of this project, the export Centre is consolidating its relationship with the Romagna-based company, which has already taken advantage of the support of SACE for its own international expansion plans. Tozzi Green’s growth path, centred around research and innovation, has made the Ravenna company a genuine trailblazer of the green economy.