from : Financial Times ( US )
By Chris Bryant in Berlin, James Wilson in Frankfurt and Ed Crooks in London
Published: July 12 2009 18:06 | Last updated: July 12 2009 18:06
Around a dozen companies are set to launch a renewable energy initiative on Monday that its backers claim could within a decade provide Europeans with electricity generated from the Sahara – at a cost of €400bn ($557bn).
Munich Re, the German insurer, Deutsche Bank, utilities RWE and Eon and industrial conglomerate Siemens are among the bluechip names that will form a company to explore the technical and geopolitical challenges of peppering the deserts of North Africa and the Middle East with solar mirrors.
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