The Volobe file is taking a new turn. After years of discussions, announcements and financial difficulties, Madagascar's authorities want to accelerate the implementation of this hydroelectric infrastructure considered strategic for the country's power supply. President Michaël Randrianirina confirmed his government's commitment to reviving the project upon returning from a European tour. This new phase relies notably on direct financial involvement by the State. Madagascar now plans to become a shareholder in the project, an option likely to reshape its economic balance. To finance this participation, the Executive is seeking support from international partners. France is expected to support Madagascar's efforts with the European Union to request the Green Climate Fund. Belgium has reportedly expressed its backing, while the World Bank appears willing to financially support the State's entry into the capital. Volobe II is far from a new matter. Launched in 2016, the project involves developing a 120 MW hydroelectric plant on the Ivondro river in the Atsinanana region. Its production should notably strengthen power supply to the interconnected networks of Antananarivo and Toamasina. Yet, ten years after the first agreements with the Compagnie générale d'hydroélectricité de Volobe, work has still not truly begun. At the heart of disagreements was the electricity selling price. The gap was considerable between the operator's demands, around 17 cents per kilowatt-hour, and the State's target of 9 cents. The concession was established for twenty-five years in 2023, but the financial equation remained unsolved. The announced arrival of EDF in the consortium in 2025 had not been enough to definitively unlock the situation. An amendment concluded last July extended the negotiation period until June 2027. Public participation could now change the game. According to the head of state, it would help reduce the cost of produced electricity while facilitating project financing. However, no specific amount concerning Madagascar's investment has been disclosed. Volobe thus returns to the center of national energy strategy, in a context where electricity supply difficulties remain significant. After a decade of waiting, the key question will be whether this new momentum finally allows the project to move from negotiations to construction.