The companies including renewable giant RWE and energy major Siemens, plus Deutsche Bank and world’s biggest reinsurance group Munich Re, will unveil the consortium in mid-July, according to a report by Süddeutsche Zeitung.
The construction of huge solar thermal power plants in the North African deserts will take ten years before they can supply their first power, the report adds.
The Desertec project is expected to be one of the largest private green initiatives ever.
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