Munich, Germany [RenewableEnergyWorld.com] Reinsurance company Munich Re is seeking to attract partners to conduct a feasibility study on the Desertec plan to exploit solar energy on an industrial scale in the deserts of North Africa for export to Europe.
Munich Re believes the technology could realise new business potential and combine energy security with climate protection in the medium term. Electricity produced in solar thermal power plants in North Africa and transported from there to Europe via new, direct current power grids could play a key role in the sustainable energy mix of the future, the company says.
Commenting on the Desertec concept, Munich Re Board member Torsten Jeworrek said: “This is no longer a distant vision but technologically fascinating and also achievable. Desertec is clearly banking on the right incentives in the long term, namely climate protection and a low-carbon energy sector. We are therefore commencing a dialogue with visionary thinkers and companies that, like us, are convinced of Desertec’s enormous economic, ecological and social potential.”
The company has reportedly invited companies, including Deutsche Bank, Siemens, E.ON and RWE, to talks in July to agree on a joint project, the so-called Destertec Industrial Initiative (DII). The Destertec Foundation is a charitable initiative of the Club of Rome.