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13 Jul | There’s Plenty of Sun in the Sahara

It’s estimated that $555 billion will be needed to realise a planned project to harness the sun that beats down on the Sahara Desert and pipe it to European homes, according to sources from Siemens AG quoted in an article on Bloomberg.com.

Some big players such as Siemens AG and Munich Re – amongst others – will meet today in Munich to sign a memorandum of understanding to proceed with the ambitious project, that if implemented, could supply up to 15% of Europe’s electricity needs my the middle of the century.

Obviously there are any number of potential pitfalls and problems that may arise before we see a single watt of electricity hitting Continental Europe, but the very fact that plans are being made, the ball is rolling and interest is being shown from some unlikely sources demonstrates the shift in attitude towards the viability of alternative energy.

Read the article in full here.