More Funding For Desertec?
In 2050, it is hoped that Desertec will havedeveloped brand new resources to power a North African economicexpansion and simultaneously meet up to 20% of the European Union’selectricity needs.
Until now, the eastern side of theMediterranean had been largely left out of Desertec plans, sincecountries along the Persian Gulf have large endowments of oil andnatural gas. However, surging temperatures in recent years have drivenSaudi Arabia and Egypt to research a $1.5 billion plan to connect their grids. The benefit to each nation would be a buffer in supply whenpeak demand hits, because Egypt and Saudi Arabia experience their peakdemand levels of 3 to 4 GW at different times.
From Morocco in the West to Oman in the East, the Arab world spans five time zones.
If the World Bank decides to fund smart grid development from NorthAfrica to the Indian Ocean, oil-rich states like Saudi Arabia willbecome unlikely allies in the quest for energy options that is driving development and investment around the globe.
More Funding For Desertec? originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the firstadvisory to focus exclusively on investments in alternative andrenewable energies.
Green Chip Stocks Editors & Contributors Jeff Siegel Jeff Siegel is the managing editor of Green Chip Stocks, an independent investment research service that focuses exclusively on renewable energy and organic and natural food markets. Nick Hodge One of the bright young minds in today's cleantech industry, Nick is putting his knowledge of nascent green markets to use in several ways... Nick is the co-author of a best-selling book and has interviewed dozens of times for TV and Web; his keen insight, uncanny foresight, and global contacts have led to double- and triple-digit wins for his readers, time after time.
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