Magazine article Europe-East

Eu-Mediterranean Energy Cooperation : Dii and Medgrid Sign Mou on Renewables Development

Magazine article Europe-East

Eu-Mediterranean Energy Cooperation : Dii and Medgrid Sign Mou on Renewables Development

Article excerpt

Dii (Desertec Industrial Initiative) and Medgrid, two international private industry consortia committed to market and infrastructure development in the field of renewable energy in the South-East Mediterranean, signed a memorandum of understanding, on 24 November.

Established in 2009, German-led Dii is mostly active in enhancing power generation in North Africa and the Middle East. It aims to foster cooperation between industrial entities and create the right market and regulatory conditions for the construction of a wide network of solar thermal and photovoltaic fields as well as wind farms in desert regions. Medgrid, an initiative launched a year later, is currently in the process of analysing the best options for setting up a sub-Mediterranean grid of high-voltage electricity transfer lines. The initiative enjoys the support of the French state and industry.

The ventures are compatible in terms of timing and focus: Dii plans ahead to 2050, while Medgrid's deadline for the completion of the grid is shorter: 2020-2025. The consortia also share a number of shareholders in the field of solar technology development and energy trade.

In the MoU, the parties mutually acknowledge the value of each other's contribution to the common goal, which is developing renewable energy in the South-East Mediterranean and transporting it to the local and EU markets. According to Dii estimates, 15% of the EU's energy need could be met by renewable desert energy' by 2050. …

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