EU opens new call for PCI, PMI energy infrastructure projects
Sep 18, 2024 15:49 CESTAug 30, 2013 - Costs for the Desertec renewable energy project, which aims to bring solar and wind power to Europe from Africa and the Middle East, will most likely explode to some EUR 900 billion (USD 1.19trnl), a study by the Kiel Institute of Economy (IfW) has shown.
At the start of the project back in 2009, total costs were estimated at about EUR 400 billion.
Desertec, which should start supplying green electricity to Europe in 2020, will need EUR 460 billion in foreign investments by 2050, IfW's expert Gernot Klepper was cited by German media as saying.
Countries in North Africa and the Middle East (MENA) will need to add an investment in the similar amount, IfW says.
According to Klepper, electricity needs in the MENA region should be met almost entirely with renewable energy, which is possible and would not result in catastrophes.
(EUR 1.0 = USD 1.32)
EU opens new call for PCI, PMI energy infrastructure projects
Sep 18, 2024 15:49 CESTIEA urges proactive measures to integrate renewables
Sep 18, 2024 11:17 CESTClean hydrogen projects past FID spike to USD 75bn
Sep 17, 2024 14:44 CESTGlobal wind turbine order intake hits record 91.2 GW in H1
Sep 17, 2024 10:03 CESTKibo Energy seeks to buy 20-GW renewables pipeline in Europe, Africa
Sep 16, 2024 17:21 CESTEuropean wind turbine orders rise 11% in H1 2024 - WindEurope
Sep 12, 2024 14:33 CEST