German consortium implements Desertec plan

A group of twenty big German companies is planning to deliver solar energy from Africa to Germany within 10 years. For that purpose Münchener Rück, Siemens, the Deutsche Bank, RWE and others will form a consortium. The plan is to build giant CSP-plants (Concentrated Solar Power, see Destertec.org) in North Africa and will cost 400 billion euro. With this investment 15% of the European demand for electricity can be delivered with solar energy. It is one of the biggest private green initiatives ever!

More information here and here in the  Süddeutche Zeitung of June 15. De vision of the biggest invester, insurance company Münchener Rück can be read here.