This week, 12 companies signed an agreement to explore the energy potential of the Sahara dessert. On the face of it, the proposal is appealing: tap the sun and convert it into energy to power Europe, the Middle East and North Africa. If successful, the project one day might account for 15% of Europe’s energy needs.
“Saving the world is the future’s biggest ethical challenge, and at the same time it will be the biggest business opportunity,” the Desertec Foundation’s Gerhard Knies said in a news conference. The foundation is behind the the effort.
But as soon as the announcement was made, doubts were also raised.
Various estimates from Reuters and the Financial Times have the project costing up to $555 billion; assuming the initial research proved promising, the actual implementation of Desertec could take decades.
There are also concerns about political instability in the region — though the same could be said for the oil economy.
And what will this investment mean for one of the poorest regions in the world? Desertec has mapped out a vision in which solar plants and cheaper energy will benefit local economies. But in the history of energy exploitation in the developing world, the record is not terribly encouraging.