The ambitious, multibillion dollar solar power project Desertec has been abandoned by all but three of its shareholders and will now continue in an “adapted format” as a consultancy. The project was expected to provide up to 20 percent of Europe’s energy needs by 2050 by importing power from solar farms in North Africa and the Middle East. Despite estimates that more energy could be harvested from the desert sun in six hours than humanity could use in a year, the project’s backers have steadily withdrawn, citing high costs, a reluctance to invest in the region, and the fact that Europe seems to be doing a very good job of producing renewable energy at home, thank you very much.
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Post tags: Desertec, Desertec abandoned by shareholders, Europe, global development, Middle East, North Africa, renewable energy schemes, shareholders, Solar Power