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ⓘ Eranove is a French company active in the management of public services and in the production of electricity and drinking water in Africa. The company was forme ..



                                     

ⓘ Eranove

Eranove is a French company active in the management of public services and in the production of electricity and drinking water in Africa. The company was formerly known as Finagestion.

The Eranove Group has been present in Cote dIvoire for several decades, in Senegal SDE since 1996, and in the Democratic Republic of Congo since 2012 service contract with REGIDESO. The group has also been developing projects in Mali since 2015 Kenie Energie Renouvelable, Gabon, Madagascar Sahofika, and Togo Kekeli Efficient Power. It generated revenues of €576 million in 2017.

Eranove operates an installed capacity of more than 1.250 MW. The group employs more than 9.000 people and serves 1.9 million customers for electricity, 1.8 million for water and 470.000 for sanitation. The majority shareholder of the Eranove Group is ECP Finagestion FII S.a.r.l., affiliated with Emerging Capital Partners, a pan-African leader in private equity.

                                     

1. History

Between 2005 and 2006, the Bouygues Group sold its public services subsidiary, Saur, while retaining its African and Italian assets. The African assets were housed in Finagestion, a holding company then 100% owned by the Bouygues Group.

Between July 2008 and October 2009, ECP FII Finagestion S.a.r.l., an affiliate of pan-African investment fund Emerging Capital Partners ECP, gradually acquired a 60% stake in this entity from Bouygues. ECP FII Finagestion S.a.r.l. currently owns 53.3% of the Eranove group. ECP gradually transformed Eranove at the time Finagestion into a pan-African industrial platform. The Board of Directors decided to rename Finagestion "Eranove" in July 2014 following a consultative process within the groups subsidiaries.

Since 1960, the Eranove Group has been present in Cote dIvoire Societe de Distribution dEau de Cote dIvoire; Compagnie Ivoirienne delectricite; Compagnie Ivoirienne de Production delectricite; Awale. It began operations in Senegal in 1996 Senegalaise des Eaux. Since 2013, it is active in the Democratic Republic of Congo through a Service contract with the Regideso. The group is also developing other projects across Africa, notably in Mali Kenie Renewable Energy, Gabon, Madagascar Sahofika, Cote dIvoire Atinkou and Cavally and Togo Kekeli Efficient Power.

In the summer of 2015, the 18.6% still held by Bouygues were sold to French insurance company AXA.

                                     

2. Operations through affiliates and service contracts

Smart Energy Cote dIvoire

An affiliate of CIE and the Eranove Group created in 2017, Smart Energy supports businesses in the attainment of their energy efficiency goals.

                                     

2.1. Operations through affiliates and service contracts CIPREL Compagnie ivoirienne de production delectricite

A major player in power generation in Cote dIvoire since 1994, the CIPREL Compagnie Ivoirienne de Production delectricite thermal power plant consists of seven combustion turbines, which use natural gas extracted off the Ivorian coast as their main fuel, as well as a steam turbine.

CIPREL operates through a concession contract, running until 2035, with the State of Cote dIvoire. It is 83.3% owned by Eranove.

The entire CIPREL perimeter is HSE certified: ISO 9001, OHSAS 18001, ISO 14001. CIPREL has reached the confirmed stage of the ISO 26 000 standard for its commitment to corporate social responsibility CSR throughout its scope.

                                     

2.2. Operations through affiliates and service contracts CIE Compagnie ivoirienne d’electricite

CIE Compagnie Ivoirienne dElectricite is a private operator linked to the State of Cote dIvoire by a concession agreement since 1990. This agreement entrusts the CIE with the operation of production, transmission and distribution facilities, the marketing, import and export on behalf of the Ivorian State of electricity throughout the national territory and in the wider region. CIE serves 1.9 million customers, operates a production capacity of 704 MW as well as 50.000 km of the electricity grid.

Since the end of 2014, CIE has been implementing, in collaboration with the ministry, a program to facilitate access to electricity for the greatest number of people, the Electricity for All Program Programme Electricite pour Tous - PEPT. It has connected 359.000 households to electricity.

CIE is listed on the Bourse regionale des valeurs mobilieres BRVM. It was rated AA+ long-term by the financial rating agency Bloomfield Investment in 2016 and is 55.53% owned by Eranove. The scope of CIEs interconnected production, energy movements and transport are HSE certified according to ISO and OHSAS standards and have reached the confirmed stage according to ISO 26 000.

Through CIE, the Eranove Group also operates the Centre des Metiers de lElectricite CME, a training center specializing in electricity and management based in Bingerville, near Abidjan. The CME has obtained the HR Excellence certification and the "center of excellence" label from the Association of Power Utilities of Africa APUA. In 2017, in addition to the 230 students in the BTS/DUT cycle, 4.416 people were enrolled in training and 220 in initial training. In May 2018, the CME signed a partnership agreement with the Conservatoire National des Arts et Metiers CNAM to deliver the first French professional bachelors degree of this kind in West Africa.



                                     

2.3. Operations through affiliates and service contracts SODECI Societe de distribution d’eau de la Cote dIvoire

Created in 1960 as the first privatized water distribution company in Africa, SODECI Societe de distribution d’eau de la Cote d’Ivoire produces, transports and distributes clean drinking water in the urban areas of Cote d’Ivoire. Since 1999, SODECI also operates and maintains sanitation facilities for the city of Abidjan. SODECI provides services 1.1 million customers for water, while providing sanitation to 470.000 customers. SODECI operates through a lease contract.

46.07% owned by Eranove, SODECI is a company listed on the Regional Transferable Securities Exchange BRVM. SODECI was rated AA- long-term and A1- short term by the financial rating agency Bloomfield Investments in 2016. SODECI was also the first private company in the public service in Africa to be certified ISO 9001.

                                     

2.4. Operations through affiliates and service contracts SDE Senegalaise des eaux

SDE, the Senegalese Water Company, has been producing, transporting and distributing drinking water in Senegals main cities since 1996. SDEs lease contract with the State of Senegal has been renewed three times since 1996.

Between 1996 and 2017, the rate of access to the service increased from 80% to 98%, and the number of customers more than doubled from 241.167 to 743.859. Network efficiency increased by more than 10 points 1%. These performances have contributed to Senegals achievement of the Millennium Development Goals MDGs in the field of drinking water services, along with other actors in the urban water sector. SDE supplies consumers through individual connections and standpipes. It had 1209 employees at the end of 2017.

SDE is a member of the African Water Association AAE, the International Water Association IWA, the World Federation of Private Water Operators AQUAFED and the World Water Council WWC. In 2018, SDE obtained the "Water Utility of the Year" award from African Utility Week. The SDE is QSE certified throughout its scope: ISO 9001, OHSAS 18001, ISO 14001. SDE has reached the exemplary stage of the ISO 26 000 standard for its commitment to corporate social responsibility CSR.

Eranove and SDE, following an international bidding process, signed a three-year service contract, renewed in 2017, with REGIDESO Democratic Republic of Congo, financed by the World Bank.



                                     

2.5. Operations through affiliates and service contracts Smart Energy Cote dIvoire

An affiliate of CIE and the Eranove Group created in 2017, Smart Energy supports businesses in the attainment of their energy efficiency goals.

                                     

2.6. Operations through affiliates and service contracts AWALE

AWALE affiliate of CIE and the Eranove Group is a company whose purpose is to furnish high-speed data transmission capacity via the electrical network of Cote d’Ivoire. In 2010, AWAL signed a 20-year agreement with the State of Cote d’Ivoire which grants it exclusive access to the national electric transportation and distribution network with the purpose of constructing and operating communication networks through fiber optic lines and by on-line electric currents. AWALE is 77.13% owned by Eranove + CIE.

                                     

3. Projects under exclusive development

RSE

Through its subsidiaries, the group is committed to all the facets of ISO 26 000 CSR and to ISO 9001 quality, OHSAS 18001 safety and ISO 1400160 environmental certification.

                                     

3.1. Projects under exclusive development Kekeli Efficient Power

On October 23, 2018, the Republic of Togo and the Eranove Group signed a concession agreement for an electric power plant of 65 MW. The concession agreement for the production of electricity includes design, financing, construction, commissioning, operation and maintenance of an electric power plant located in the port district of Lome.

                                     

3.2. Projects under exclusive development Atinkou

On September 5, 2016, the Eranove Group signed an agreement protocol with the State of Cote d’Ivoire for the financing, design, construction, operation and maintenance of a thermal combined cycle power plant of 390 MW, followed by the signing of a concession agreement on 19 December 2018. The Atinkou power plant will use natural gas as its main fuel and will be located on the edge of Abidjan.

                                     

3.3. Projects under exclusive development Kenie Energie Renouvelable

Through its affiliate Kenie Energie Renouvelable Kenie Renewable Energy, the Eranove Group signed on June 18, 2015 with the government of the Republic of Mali a concession agreement with a duration of 30 years for the financing, design, construction and operation of the 42MW Kenie hydroelectric power plant, 35 km east of Bamako in Baguineda on the Niger River.

                                     

3.4. Projects under exclusive development Asokh Energy

On 21 October 2016, the Eranove Group and the Fonds Gabonais dInvestissements Strategiques FGIS signed a concession contract with the Gabonese State for the design, financing, construction and operation of the Asokh Energy hydroelectric power plant Ngoulmendjim site, 73 MW on 26 October 2018. This hydroelectric power plant, located on the Komo River, is going to supply Libreville.

                                     

3.5. Projects under exclusive development Louetsi Energy

On 21 October 2016, the Eranove group and the Fonds Gabonais dInvestissements Strategiques FGIS signed a concession contract with the Gabonese State for the design, financing, construction and operation of the Louetsi Hydro 15 MW hydroelectric power plant and on 26 October 2018, the contract for the sale of electricity. This run-of-river hydroelectric power plant, located 450 km from the capital on the Louetsi River, on the Dibwangui site, is dedicated to supplying the southwestern part of the country.

                                     

3.6. Projects under exclusive development Cavally

In 2014 the Eranove Group signed an agreement protocol related to hydroelectric planning for the Cavally River. This protocol commits Eranove to the design, financing, construction and operation of hydroelectric facilities on the Cavally River, within the framework of a BOO Build-Own-Operate contract.

                                     

3.7. Projects under exclusive development Sahofika

A consortium made up of the Eranove, Eiffage and Themis Groups on December 2, 2016, signed a project agreement with the Republic of Madagascar for the construction and operation of a 200 MW capacity hydroelectric power plant.

                                     

3.8. Projects under exclusive development RSE

Through its subsidiaries, the group is committed to all the facets of ISO 26 000 CSR and to ISO 9001 quality, OHSAS 18001 safety and ISO 1400160 environmental certification.

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