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Article: Desertec establishes joint venture, appoints CEO
- Article from:
- AP Worldstream
- Article date:
- October 30, 2009
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Companies including Deutsche Bank AG and Siemens AG of Germany and ABB of Switzerland Friday announced the formation of a joint venture they hope will build a massive solar energy system in North Africa and the Middle East that could satisfy 15 percent of Europe's electricity demand by 2050.
The new company, called Dll GmbH, also appointed Paul van Son, a former energy company executive to the post of chief executive. Dll will be headquartered in Munich.
Desertec, still on the drawing board, aims to produce solar-generated electricity through a vast network of generating facilities and transmission grids across North Africa and the Middle East.
"We recognize and ...