Prospero Limited (Prospero) has issued a call for expressions of interest (EOI) from private sector companies to invest in agricultural operations that can use water heated by geothermal energy.
The Bweengwa River Geothermal Resource Area is located south of Lochinvar National Park and is being developed by Kalahari GeoEnergy (KGE).
The 250 MW geothermal energy pilot plant is expected to be operational by October 2022.
EOIs will be accepted until February 21, 2022.
Prospero is implementing the UK Aid-funded Private Enterprise Programme Zambia.
Prospero Zambia operates at the intersection of market systems development and the impact investment ecosystem, transitioning growth-stage businesses into viable recipients for impact capital.
According to Prospero, the programme is designed to incentivize investment in innovation and create new growth opportunities for SMEs. Food and agriculture is among the potential high-growth sectors that Prospero is focusing on.
“Prospero and KGE have conducted a feasibility study in November 2021 that identified opportunities for SMEs to use geothermal heat for fish and fingerling production, aquaponics, drying and processing of crops, and chicken production,” it said.
“The utilisation of geothermal energy for agriculture applications has the opportunity to contribute to creating employment, improve access to energy and diversification of economic activities in rural areas.
“Most importantly, unlike fossil fuels, geothermal energy is a renewable energy resource that can contribute to reducing climate change effects and promote more sustainable agriculture business operations.”
