Sun and wind: SEMCs have limitless wind and solar energy potential. The MSP, launched in November 2008, aims to install 20 Gigawatts (GW) of new generation capacity by 2020.
A PROJECTED INVESTMENT OF 38 to 46 BILLION EUROS
Six billion Euros of this investment is specifically earmarked for building links between generation centres and the rest of Europe.
This power of five gigawatts will be exported to Europe to help make these solar projects viable. This will enable the EU to meet its share of renewable energy needs in line with its 3rd Package commitments.
This North-South cooperation also fits into the Kyoto protocol process and enables Southern Mediterranean countries and project promoters to trade carbon credits through Clean Development Projects.
TRANSMISSION AND INTERCONNECTION LINES, VITAL LINKS
Bringing renewable electricity from generation sites to load centres across Europe requires new infrastructure in the shape of submarine High-Voltage Direct Current (HVDC) cables.
At the moment there is only one double 1.4 GW AC line linking Africa to Europe across the Gibraltar Strait- this is not adequate.
New lines will open up the European market to renewable electricity generated in the South. Better interconnection will strengthen the reliability of power systems and create a large electricity market in the South, to satisfy energy demands at the best possible price.
On a wider scale, these major infrastructure investments will boost economic development in UfM countries.
