First Solar joins Desertec project

ARIZONA - U.S. solar power company First Solar has joined the Desertec solar power project, which hopes to supply 15 percent of Europe's power by 2050 via a network of renewable energy sources.

First Solar said it was the first pure photovoltaic company to join Desertec, the world's most ambitious 400 billion euro (US $549.9 billion) solar power project that proposes sending energy created in the Sahara to local markets and to Europe.

The Arizona-based company said it had joined Desertec for an initial period of three years and that it would contribute utility-scale PV expertise in project working groups.

Additional details on the agreement were not disclosed.

Twelve member companies — mostly German ones including Siemens, E.ON, RWE and Deutsche Bank — support the Desertec Industrial Initiative, launched at Munich Re headquarters in July last year.

Leaders of the project, which would advance in stages with the first phase operational within a decade, have made a push in recent months to diversify the countries involved in it.

They have said more energy falls on the world's deserts in six hours than the world consumes in a year.

First Solar, which uses cadmium telluride rather than polysilicon to make its thin film cells, has the lowest production cost on the industry, though its cells are not as efficient as those made by rivals such as Suntech Power Holdings and SunPower Corp.

The company has built utility-scale solar power plants in desert conditions in the United States and United Arab Emirates.