Investors and industrialists from 14 companies met in Munich,
Germany recently to formally launch Desertec Industrial
Initiative, a €400 billion ($774 billion) collaborative project
to provide 15% of Europe’s energy via solar power from Africa’s
Sahara desert by the year 2050. Since it was formally announced
earlier this year, the project has gotten mixed responses from
development and renewable energy groups. Speaking about the
benefits of the project MEED Magazine writes: Desertec’s backers
say the scheme will create jobs and boost local economies. Some
go so far as to claim it could even reduce the number of
economic migrants to Europe. Governments on both continents will
need to collaborate to define a regulatory and legislative
framework for the scheme. If Desertec can overcome these
hurdles, it will set a precedent for international energy co-
operation. But critics of the project also give some strong
points. New Scientist Magazine writes: Critics are lining up to
point out the project’s shortcomings. T