€400B Desertech Industrial Initiative Takes Shape
A dazzling $400 billion project to send solar power to Europe from the Sahara is taking shape now that German reinsurance Munich Re giant has assembled a consortium of companies to begin the work.
The Desertech Industrial Initiative (DII, Web site) aims to provide 15 percent of Europe’s electricity by 2050, according to Munich RE’s press release. The plan would use concentrated solar power, focusing the sun to heat liquid, which then drives turbines to generate electricity.
The Guardian reports that the project could bring power to Europe by 2015 by using high voltage direct current cables to move the power from North Africa to Europe.
The company’s shareholders include ABB, Abengoa Solar, Cevital, Desertec Foundation, Deutsche Bank, E.O, HSH Nordbank, MAN Solar Millennium, M+W Zander, RWE, Schott Solar and Siemens.
The list of shareholders is expected to expand to include participants from other countries.
Paul van Son, formerly of Deutsche Essent and Econcern in the Netherlands, will helm the new enterprise.
“We recognize and strongly support the DESERTEC vision as a pivotal part of the transition to a sustainable energy supply in the Middle East, North Africa and Europe,” Van Son said. “Now the time has come to turn this vision into reality.”
I wish i had a part of the $400 billion pie…
You will – you’ll know it everytime you take a breath of clean air.
This alternative energy age is there for all you participate to make a good CLEAN living, and the industry will grow quicker than the internet with as many opportunities.
DESERTEC is just placing the starting blocks for all of us that have dreamed of such initiatives
hey koh, you can get some of this-and lots of others- money.
just co-operate int the new projects and stop maintaining a position that is a proven loser for america
dear boss greertings,
i am an electrical engineer now working as power projects engineer in egypt (for the last 9 years ).
i am very intersted in the field of the renewable energy,
i am looking ahead to move to this very brlliant power sector,
i am trying if i can get a chance with an intersted company to be located with them in the middle east area for a such field.