Deutsche Bank – Responsibility
July 1, 2013

On the path towards sustainable and affordable electricity from the desert: Dii publishes new report “Desert Power: Getting Started (DP:GS)“

The Desertec industrial initiative Dii, which Deutsche Bank co-founded in 2009, campaigns for attractive market conditions for solar and wind power in North Africa and the Middle East (MENA). Its mission is to create markets for these renewable energies in MENA to cover local requirements as well as export to Europe.

In its 2012 report „Desert Power 2050”, Dii already showed that a sustainable and integrated power system leads to advantages for all countries in the EUMENA region.

But a transnational power market does just not develop on its own, even if all of the partners are likely to benefit from it. The “Desert Power: Getting Started (DP:GS)” study, which has just been released, highlights initial pragmatic steps towards sustainable and affordable electricity for everyone in EUMENA. It also presents the private-sector perspective on the Mediterranean Solar Plan.

Dii will not be building any renewable energy power plants itself, it is a private industry consortium working towards enabling its vision in the EUMENA region. In recent years, considerable political efforts have been aimed at expanding the use of renewable energies in the Mediterranean area and the Middle East. Important institutions have been set up and are now facing the challenge of becoming effective. For this purpose DP:GS proposes concrete actions.

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The name DESERTEC stands for the general vision - open to all types of technology - of achieving a sustainable power supply for all regions of the world with access to energy potential from deserts. Utilizing solar and wind energy to fill the energy requirements of Europe, North Africa and the Middle East is an effective use of resources that simultaneously supports the philosophy of green growth. Furthermore, Desertec is an excellent way to enable people to overcome poverty and provide roughly 2 million people in North Africa with access to electricity.

Dii was founded in Munich in October 2009 by Deutsche Bank and eleven other companies as well as the DESERTEC Foundation. In the meantime, more than 55 companies and organizations now belong to this international consortium.

“The report clearly shows that the development of desert power will benefit societies on both sides of the Mediterranean and can lead to significant opportunities for companies like Deutsche Bank.”

Caio Koch Weser Vice Chairman Deutsche Bank Group