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11.06.26 - 10:18
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EU Plans €100 Billion Project To Bring African Sunlight To Power Europe′s Electric Revolution (ZeroHedge)
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EU Plans €100 Billion Project To Bring African Sunlight To Power Europe's Electric Revolution
The European Union, which has been starved for cheap energy since the start of the Ukraine war, is betting that the future of its energy system lies under the North African sun. On Tuesday, the European Commission pledged €5 billion of EU money to renewables projects in North Africa and the Middle East, which could feed electricity back into Europe's grid, Politico reported.
The dream is that solar panels in the sun-soaked Sahara Desert and wind turbines along the southern and eastern shores of the Mediterranean generate electricity that is then sent through high-voltage transmission lines under the sea and into Europe's grid. While visionary, the probability of this happening in the next decade is slim, meanwhile the bill for Europe - which is even more cash-strapped than it is energy-strapped - would be astronomic.
That electricity would replace imported fossil fuels, helping Europe meet its...
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