Connect with us

Hi, what are you looking for?


Clean Power

DESERTEC $555 Billion Renewable Energy Project Moving Forward

The huge project to build a $555 billion renewable energy “belt” in the Middle East and North Africa (MENA) region, funded largely by German companies, moved another step forward a few days ago.

The articles of association for the DESERTEC Industrial Initiative (DII) were signed by the joint venture group of 12 companies and the DESERTEC Foundation in Munich on October 30.

Additionally, a CEO for DII was appointed — Paul van Son.

As discussed previously, this project is a landmark, groundbreaking renewable energy project if it goes through. It is expected to produce 15% of Europe’s electricity requirements by 2050. It should also provide the MENA region with a large portion of its electricity needs.

With the articles of association signed and a CEO appointed, this project has moved one important step forward. New CEO van Son says, “Now the time has come to turn this vision into reality. That implies intensive cooperation with many parties and cultures to create a sound basis for feasible investments into renewable energy technologies and interconnected grids. The DII will primarily focus on the economic, technical and regulatory conditions that must be fulfilled for successful project implementation.”

Mr. van Son is a major player in the renewable energy sector in Europe and Africa. He is currently Chairman of the European Federation of Energy Traders (EFET) and of the Energy4All Foundation (active in Africa). He has also held management positions in Deutsche Essent (Germany), Econcern (the Netherlands), and other European renewable energy companies.

Near future plans for the project now are to bring more companies from different countries on board (as shareholders or partners) “to ensure broad-based support from the EUMENA society.”

The massive project looks to be a world-changing achievement that all of the world can look back on as a major historical feat that was once thought impossible but eventually achieved. However, there are still some important questions to answer, regarding social justice, energy security, resource colonialism, solar imperialism, efficiency, and whether or not this is all the good things it is expected to be. The current shareholders — ABB, ABENGOA Solar, Cevital, DESERTEC Foundation, Deutsche Bank, E.ON, HSH Nordbank, MAN Solar Millennium, Munich Re, M+W Zander, RWE, SCHOTT Solar, and Siemens — are looking to make a profit. Is it going to be a clean, green profit, or will it stimulate more inequalities, energy insecurities, and so on?

The pictures above are a bit like a graphic analogy of the project — we have the light of hope but also the dark shadows of remaining questions and the steps yet to be taken.

It seems like a true win-win-win project, but are we being naive?

In either case, it is moving forward.

via pv-tech

Related Articles:

  1. Half a Trillion Dollars to Build Huge Desertec Plan?
  2. Desertec Advances: Massive Solar Power Project No Longer a Mirage?
  3. $560 BILLION Solar Project — Biggest Ever
  4. Spanish Solar Company Abengoa to Supply Desertec

Image Credits: Paul Watsonalles-schlumpfterry 6082 Books

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Former Tesla Battery Expert Leading Lyten Into New Lithium-Sulfur Battery Era — Podcast:

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...
If you like what we do and want to support us, please chip in a bit monthly via PayPal or Patreon to help our team do what we do! Thank you!
Written By

Zach is tryin' to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in Tesla [TSLA], NIO [NIO], Xpeng [XPEV], Ford [F], ChargePoint [CHPT], Amazon [AMZN], Piedmont Lithium [PLL], Lithium Americas [LAC], Albemarle Corporation [ALB], Nouveau Monde Graphite [NMGRF], Talon Metals [TLOFF], Arclight Clean Transition Corp [ACTC], and Starbucks [SBUX]. But he does not offer (explicitly or implicitly) investment advice of any sort.


You May Also Like


South Africa’s Shoprite Group is expanding its key environmental programs as part of its sustainability strategy. One of the major components of this strategy...


Tesla’s annual shareholder’s meeting left some disappointed with margins and a lack of new updates. However, some analysts recently reiterated their “Buy” rating on...

Energy Storage

One of South Africa’s leading mobile telecom companies, Vodacom, has spent over R4 billion ($203 million) on backup power solutions such as batteries and...

Clean Transport

ARC Ride designs and builds electric vehicles, as well as runs a battery-as-a-service business in Nairobi, Kenya. ARC Ride wants to be the leading...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.