Aug. 30 (Bloomberg) -- A plan supported by Siemens AG and Munich Re to develop renewable energy in the Sahara desert starting with a plant in Morocco lacks investors and is still being organized, the project chief said.
“We’re in the very early stages, the letter-writing stage, and don’t have any investors yet,” Paul van Son, who heads the Desertec initiative, said today in an interview.
Desertec aims to generate power in the Sahara using solar-electricity generators and wind turbines and is supported by companies including Siemens, Europe’s largest engineering company, and Munich Re, the world’s biggest reinsurer.
Last month Desertec announced that it was planning a pilot plant in Morocco as a way to test the feasibility of the project. The Moroccan experiment is likely to generate about 1,000 megawatts of electricity when completed.
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