Under the terms of the 30-year concession agreement, the company will finance, develop, build and operate the 42MW Kenié hydro-electric project in Baguinéda on the Niger River, 35km east of Bamako.
Initial simulation estimates the Kenié facility to produce approximately 175GWh of electricity, which is equivalent to powering 175,000 households annually.
The development comes in line with the country’s efforts to reduce its reliance on imported hydrocarbons and help to meet its power demands.
As per World Bank estimates, the country currently has approximately 414MW of installed power capacity which meets only 50% of its required demands.
Eranove Group CEO Marc Albérola said: "Hydro-electric power is one renewable energy source that is in abundant supply in Africa.
"As part of the regional integration of power transmission networks, hydro-electricity can play a key role in increasing power generation capacity.
"This would prove hugely beneficial both for local populations and for regional industrial development."
Construction of facility is planned to start in 2016 and will be completed in 2020. The project shareholder includes IFC InfraVentures.
