What is "medgrid"

Medgrid project, created at the end of 2010 in Paris, is a large industrial project planned in North Africa, which aims to promote and develop a Euro-Mediterranean electricity network that would provide North Africa & Europe with inexpensive renewable electricity, mostly from solar. The goal is to install 20 gigawatts (GW) of generating capacity, with 5 GW being devoted for exports to Europe.

The Medgrid project was envisioned by a consortium of twenty plus utilities, grid operators, equipment makers,financing institutions and investors, mostly European.

On 24 Nov 2011, a MoU was signed between Medgrid and Desertec Industry Initiative (Dii) to study, design and promote an interconnected electrical grid with the 400 billion euro ($536 billion) renewable energy ' Desertec' project in North Africa. The medgrid together with Desertec would serve as the backbone of the ' European Supergrid' and the benefits of investing in HVDC technology are being assessed to reach the final goal – the 'SuperSmart Grid (SSG)'.