In a recent note, Goldman…
Saudi logistics company, Bahri Logistics,…
Jordan could be a valuable addition to the Mediterranean Solar Plan, which is looking to interconnect solar power plants across the Mediterranean countries to generate 20 gigawatts of electricity within the next decade.
According to by Dr Gerhard Knies, German physicist and founder of the Trans-Mediterranean Renewable Energy Cooperation (TREC), “The world’s deserts collect more energy from the sun in six hours than mankind consumes in an entire year.”
Megrid is a part of Europe’s Transgreen project, which build upon the Mediterranean Solar Plan launched in 2008 to provide Europe with inexpensive renewable electricity from northern Africa and the Middle East.
Medgrid is currently an industrial initiative composed of a consortium of 20 companies, including manufacturers, financing institutions and investors with the 21 European companies signed up for the Medgrid Initiative, which will develop a Euro-Mediterranean electricity network via undersea cables from Africa to Europe, Amman’s Jordan Times reported.
Medgrid Executive Vice President Gassan Anbar told reporters during a press conference, "The Kingdom can benefit from solar energy generated from the southern region exactly like some countries benefit from their oil fields. The project is one of the key ventures initiated under the Union for the Mediterranean, which seeks to promote new ways of cooperation and development among its 43 member countries."
By. Charles Kennedy, Deputy Editor OilPrice.com
Charles is a writer for Oilprice.com