Desertec Solar Power Project Abandoned by Shareholders

October 16, 2014 by  
Filed under Eco, Green

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, importing power from 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be harvested from the desert sun in six hours than humanity could use in a year, the project’s backers have steadily withdrawn, citing high costs, a reluctance to invest in the region, and the fact that Europe seems to be doing a very good job of producing renewably sourced energy at home, thank you very much. Read the rest of Desertec Solar Power Project Abandoned by Shareholders Permalink | Add to del.icio.us | digg Post tags: Desertec , Desertec abandoned by shareholders , Europe , global development , Middle East , North Africa , renewable energy schemes , shareholders , Solar Power

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Desertec Solar Power Project Abandoned by Shareholders

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