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Dii presents calculations on feasibility of Desertec vision

12:00 AM CEST 2012/06/21

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    Right on schedule, almost three years on from its establishment, Dii GmbH has presented Part I of its Desertec vision study into the feasibility of generating power from the desert ("Desert Power 2050").

    Munich. The results of the study by Dii and the Fraunhofer ISI Institute were that, by 2050, Europe could save €33bn per year provided firstly that, in exploiting renewable energies and implementing EU climate goals, it incorporates power from different renewable sources in the MENA states, and secondly that Europe and the MENA region are linked via a high-voltage smart grid. The study is a cornerstone of Dii's project. The company was founded in 2009 under the leadership of Munich Re and the Desertec Foundation, with 11 key players from industry and finance. Currently, 21 companies holding an equal number of shares and 35 associate partners from a number of European and MENA region countries belong to Dii.

    The study also evaluated different technologies, concluding that onshore wind would be the most economic form of power generation in the MENA region, followed by solar power. Northern European countries would play a key role in this structure by producing offshore wind energy and hydro power. The Dii is now planning to carry out a detailed study with initial milestones into how this EU/MENA power infrastructure scenario can be achieved. The Dii is also working on reference projects dealing with the development of the first ever renewable energy power plants in Morocco involving both solar (photovoltaic and solar thermic) and wind power generation.

    Ernst Rauch, Head of the Corporate Climate Centre and responsible for Dii at Munich Re stated: “The results of the study and depth of detail regarding power generation technology, cost analyses and grid issues are very impressive. They do, of course, depict an ideal situation in which grids are set up linking Europe and the MENA region across national boundaries. This is also an important reminder that getting away from small-scale, go-it-alone solutions benefits everyone. Munich Re will conduct in-depth analyses to establish how we can help realise such projects by devising insurance solutions or in our role as an investor.”

    This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.