Siemens, Munich Re Start Developing Sahara Project

Author: Jeremy van Loon and Eva von Schaper, Bloomberg, Published on: 13 July 2009

Siemens AG, Munich Re and 10 more companies agreed to draw up blueprints for a project to harness power from the Sahara Desert sun to bring extra electricity to European homes... Siemens...will try to prove the estimated $555 billion Desertec project is cost- effective, utilizing...the sun to provide 15 percent of Europe’s electrical needs by mid-century... Munich Re management board member Torsten Jeworrek said...“If it is successful, we will make a major contribution to combating climate change.” [other companies involved: ABB
Abengoa, Cevital, Deutsche Bank, E.ON, HSH Nordbank, MAN Solar Millennium (joint venture MAN Ferrostaal & Solar Millennium), M+W Zander (part of Victory Industriebeteiligung), RWE, Schott]

Read the full post here

Related companies: ABB Abengoa Deutsche Bank E.ON MAN Munich Re RWE Siemens