Project Description
The Aquasun Project Preparation focuses on feasibility studies, including environmental and social impact assessments, to determine the potential for a Non-Sovereign Operation for potential inclusion into the ACFM pipeline. This Technical Assistance ensures the project meets investment and operational standards.
The proposed main project will establish an agriculture and agro-industrial facility on Santiago Island, Cabo Verde, using renewable energy, hydroponics, and desalination technology. It aims to produce 5,800 tons of fresh fruits and vegetables annually, generate 2,200 cubic meters of desalinated water daily, and support local farmers, enhancing food security and climate resilience.
Project Objectives
- Enhance Project Viability: Update feasibility studies and validate financial models to support investment readiness.
- Promote Sustainability: Develop an Environmental, Social, and Governance (ESG) strategy and a Sustainable Reporting Framework aligned with international standards.
- Empower Women: Ensure 50% female representation in operational roles and train women for leadership positions.
- Build Capacity: Create frameworks for capacity building and organic farming certification for Agri-SMEs and farmers.
Expected Outcomes
The project preparation outcomes which include feasibility and environmental assessments will ensure the main project’s financial and technical viability, and established frameworks for sustainable farming and governance, attract investment. The expected main project outcomes are:
- 1900 rural families supported through water and farming inputs.
- 5,800 tons of fresh produce and 2,200m3 of desalinated water supplied annually.
- 50% women representation in operational and leadership roles.
- Frameworks for ESG and sustainable farming established to attract investment and enhance climate resilience.