Powering European Cities From the African Desert

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July 31 (Bloomberg) -- Kevin Sara, Chief Executive Officer at Nur Energie, talks with Guy Johnson about the technology behind the challenge of supplying Europe with solar energy gathered in the African desert. He speaks on “The Pulse.”

And rba, working to create a renewable energy corridor between europe and north africa.

Joining us for more is kevin, the ceo.

This sounds like a great idea.

You link north africa with europe.

Where the problems in making that happen?

Good morning.

Thank you for having me.

You are starting with a tough question.

It is because it is a new idea.

It is daunting to change the energy system.

It is so ingrained.

We are trying to open a new energy corridor between north africa and europe.

For noble energy, not for -- for renewable energy, not financial skills.

Let's talk in more detail.

What is the potential here?

We completely de-carbonized the european grid using a small piece of the sahara desert with existing technology at competitive prices.

Grid parity, this is competitive?

It depends on how you define grid parity.

We are competitive with offshore wind.

We are asking the u.k. government for contracts for a 20% discount to offshore wind.

We can deliver power to the u.k. cheaper than offshore wind projects that are currently -- is going to get more cost efficient?

We're not using pd, we are using a different kind of solar technology, solar thermal.

We deploy mirrors and concentrate sun to create steam.

We can deliver electricity at night.

The opportunity is substantial.

There are some issues with making this happen.

Presumably, there is an issue with investment in terms of putting a big pipe that runs from north africa into europe.

And then distributing it around europe, which does not have a great vc network -- dc network.

We are working on the power plants in the desert him in the interconnector between north africa and europe.

It is cheap, you use 3% of electricity over 5000 kilometers.

This needs to be financed.

It does go deep.

One of the other challenges is the security of energy.

Something we are focusing on with russia.

There are various conflicts taking place in north africa.

It has not been the most likely stable part of the world.

How secure for the energy the -- how secure it with the energy be?

We are already getting energy to this region.

Parallel to a gas pipeline that already zest from algeria underneath tunisia and up to italy under the mediterranean.

We are laying a cable parallel to that.

The risk profile is the same as the existing risk profile for north africa.

In terms of the gas -- from algeria to the european grid.

If you are a european politician, with happy something to rely on?

Even with the revolution in tunisia, the gas supplies were not disrupted for a day.

Same thing happening in russia, we are nervous.

Tunisia is not russia.

Would you conflate the two?

Absolutely not.

Kevin sara.

I want to check in on the markets.

Jon ferro joins us.

Check out the equity markets.


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