The Starting Point of the $555 Billion Solar Energy Project in Africa

Sahara Solar Energy Belt is expected to be the largest green energy project in the world. Previously the project was just a vision but today a number of companies have already signed an agreement to bring the project to life by investing $555 billion.

Last weekend 12 companies signed articles of association for the DESERTEC Industrial Initiative (DII). The latter is expected to gather more companies and focus on conditions and guidelines that would help successfully complete the solar energy belt that would produce solar energy.

It is worth mentioning that the DESERTEC Foundation hopes to generate 100 gigawatts of solar energy across Northern Africa. About 15 percent of the EU's energy demand will be fulfilled by the Sahara Solar Energy Belt. The list of the companies that decided to invest in the project includes: 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.

Several solar concentrating facilities will be connected throughout the coastal region of North Africa under the new project. Using high-voltage DC lines, the energy will be brought to Europe. Besides, with the help of desalination plants, combined with the solar concentrating plants, African people will benefit from fresh water. A lot of time and effort will be required to complete the whole project. The latter will also need continuous support from European agencies and organizations from the Middle East and North Africa (MENA) region. More information available at CleanTechnica.