19 June 2009 – A Germany insurance company is trying to garner support for a vast project, called Desertec, which will transmit electricity from solar farms in countries like Tunisia to Europe.
Munich Re is wanting to encourage companies such as Siemens, Deutsche Bank, RWE and E.ON to become involved in the project.
Using predominantly concentrating solar collectors, the electricity generated would be delivered to Europe throught HVDC cable.
If the project can get the support it needs, it could turn out to be one of the biggest clean energy initiatives in the world, with the potential of providing 15% of Europe’s energy needs. Critics have however questioned the wisdom of the project for various reasons, including potential political instability in the North African region.