It is the aim of the "DESERTEC" Project to provide the MENA region (North Africa and the Middle East) and Europe with a continuous supply of electricity from renewable energies. The "Desertec" Initiative has set a goal to cover 15% to 20% of Europe's need of energy by the year 2050. The Project will support the technical capacities of MENA's human resources and upgrade their experiences, while furthermore creating new job opportunities.
Mr. Peter Loescher, CEO Siemens Germany explains how the "Desertec" Project primarily takes into account to abide by the principle of preserving the environment, which is indeed an intelligent model for dealing with the problems of climate change.
Egypt is endowed with numerous areas of great wind energy potentials -foremost in the Golf of Suez- and with capacities of about 20 thousand megawatt of wind energy. This indicator of available wind energy potentials places Egypt on top of the list of countries in its region. To this, Egypt is high on the list of performance indicators pertaining to electricity generation from solar cells (photo voltaic).
In this regard, Siemens will embrace investment opportunities in Egypt in the light of strong and stable market mechanisms. Siemens has already taken its first steps by investing in the field of renewable energy in Egypt, by namely sharing as an independent producer of 250 megawatt wind energy at the Suez Golf. Let us not forget a paramount reality: it is not only about constantly increasing energy production, but moreover about living by the principle of rationalizing energy whenever possible.
