A joint venture to develop up to 100,000 MW of solar power in Middle Eastern and North African deserts by 2050 was formed on Oct. 30 in Munich. The group DII GmbH is owned by 12 major firms, most of them based in Germany, including Siemens A.G., Deutsche Bank A.G. and the DESERTEC Foundation. DII ultimately aims to supply as much as 15% of Europe’s electricity demand and a substantial part of local needs.
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.