A man pictured next to solar panels whose energy helps pump water into a water tower in a village in Niger, 2004. Twelve European companies launched a 400-billion-euro (560-billion-dollar) initiative on Monday to plant huge solar farms in Africa and the Middle East to produce energy for Europe. (AFP/File/Issouf Sanogo)From Yahoo News/AFP:
MUNICH, Germany (AFP) – Twelve European companies launched a 400-billion-euro (560-billion-dollar) initiative Monday to plant huge solar farms in Africa and the Middle East to produce energy for Europe.
The consortium says the massive proposal could provide up to 15 percent of Europe's electricity needs by 2050.
Engineering giants ABB and Siemens, energy groups E.ON and RWE and financial institutions Deutsche Bank and Munich Re are among the companies which signed a protocol in Munich.
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