• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 14 hours Could Venezuela become a net oil importer?
  • 6 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 17 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 14 hours Gazprom Exports to EU Hit Record
  • 15 hours EU Leaders Set To Prolong Russia Sanctions Again
  • 14 hours Could oil demand collapse rapidly? Yup, sure could.
  • 50 mins Oil prices going Up? NO!
  • 14 hours Oil Buyers Club
  • 17 hours Why is permian oil "locked in" when refineries abound?
  • 7 hours Oil prices going down
  • 17 hours EVs Could Help Coal Demand
  • 23 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 23 hours Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 5 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 11 mins Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 12 hours Saudi Arabia turns to solar
OPEC’s Agreement Sends Oil Prices Soaring

OPEC’s Agreement Sends Oil Prices Soaring

Oil prices spiked on Friday…

OPEC Meeting Could End Without Decision

OPEC Meeting Could End Without Decision

The current disunity in OPEC…

New Agreement Set to Accelerate Development of Desertec Project

Desertec is a giant solar project that will be developed in North Africa with the idea of supplying renewable energy both domestically, and to southern Europe via “high voltage direct current transmission lines.”

A new memorandum of understanding between the Moroccan government and the German-based Desertec Foundation is expected to accelerate the development of the project by promising to share their experience and technical expertise, and develop a strong policy framework.

In total the project is expected to have a capacity of over 2GW. Construction has already started in Morocco on the 500MW Ouarzazate concentrated solar power plant, one of the largest in the world, and completion is forecast for 2015.

Related Article: Solar Roadways: Powering the World of Tomorrow

Cleantechnica wrote that the Desertec project will secure “Morocco’s position as one of the leading renewable energy markets in Africa, building on the government’s commitment to generate over 40 per cent of its electricity from renewable sources by 2020.”

The new agreement comes at just the right time to give the venture a boost following the announcement that the engineering giant Siemens was quitting the consortium behind the whole scheme due to the fact that they had decided to sell their solar business and focus on wind power.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News