Groupe Filatex, Madagascar’s largest employer, has made two acquisitions to boost its electricity generation on the island nation and to develop power storage capacity. The company bought a 40 MW heavy fuel oil power plant in Madagascar’s capital, Antananarivo, from New York-based Symbion Power for an undisclosed amount and paid €10-million for a 41% stake in France’s Energiestro, which is developing flywheel storage technology, it said in statements sent to Bloomberg.
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