New Energy Future for Europe

Friday the 31st of July 2009

Desertec, Industrial Initiative in Munich a combination of various organisations have come together to deliver the world’s most ambitious solar energy project. The aim of the €400 billion project is to deliver carbon free energy to supply 20% of Europe’s energy needs by 2050.

 

The project will use solar energy from the deserts in North Africa to supply the European energy super highway for low-loss transmission of power over thousands of kilometres.

 

The Russian company Nitol Solar (a billion dollar company) established in 1998 is now the largest producer in Russia of polysilicon, which is the basic raw material to make solar panels (that turn sun into electricity).

 

Meanwhile Ireland has the highest electricity prices in the EU. These high costs are damaging Foreign Direct Investment and prodding the closure of existing FDI companies.

 

Government in Ireland needs to stop talking about the Green Economy and put in place governance regulations and law that allows private sector capital and entrepreneurs to enter the market for green electricity.