Here, too, there have been positive developments. That electricity needs to be economically transmitted to European markets. Generating renewable electricity in North Africa is only one aspect of the plans. The levelised cost of electricity (LCOE) for utility-scale solar PV was last year estimated by investment back Lazard in a range of $36-$44/MWh, a figure likely to fall further in this year’s assessment, but the real contrast is the change since 2009 back then, utility-scale solar PV costs were between $323-$394/MWh. This was beaten in August by a bid into a Portuguese auction of just $13.27/MWh. In June, a bid was submitted into a power auction in the United Arab Emirates which set a new world record, equivalent to $13.50/MWh. As a result, current proposals for the transmission of renewable energy across the Mediterranean stand a much better chance of being developed.įirst off is the huge drop in solar PV generation costs. However, a lot has changed in the intervening decade the cost of solar power has fallen sharply, long-distance electricity transmission lines have become longer and concerns over climate change have increased. It, too, would tap the North African region’s renewable energy resources with the aim of increasing energy security in the Euro-Med region. This aimed to link 22 power grids from Spain to Morocco, across North Africa and into the Middle East, Turkey and then back to the European grid via Greece. Back in 2009, the Desertec project became the then latest and most ambitious of these schemes, attracting substantial funds from banks and investors only to falter eventually on grounds of cost.Īt the same time the MedRing project was being developed. Policy makers and energy companies have long recognised the huge solar power resource of the North African region.
This is by no means the first time North African electricity exports have been proposed. Talks are under way between Egypt and potential investors to export electricity to Europe.
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