Solar energy from the Sahara desert could be supplying Europe with energy by 2015.

A group of 12 companies – including Siemens, E.ON and Deutsche Bank – have pledged their support to creating a carbon-free power generation in the deserts of North Africa.

The long-term goal of Desertec – the foundation behind the idea – is to develop a reliable, sustainable and climate-friendly energy supply from the North African deserts, in order to achieve a target of supplying 15% of Europe’s electricity demand by 2050.

Paul van Son has been appointed CEO of the company, whose founding members are the 12 companies who originally signed up to the $400 billion (£240bn) venture: ABB, Abengoa Solar, Cevital, Deutsche Bank, E.ON, HSH Nordbank, MAN Solar Millennium, Munich Re, M+W Zander, RWE, Schott Solar and Siemens.

The companies, in their own right, have earned a reputation as developers of renewable energy and energy efficiency programmes.

Mr van Son commented: “We recognise and strongly support the Desertec vision as a pivotal part of the transition to a sustainable energy supply in the MENA (Middle East and North Africa) countries and Europe.

“Now the time has come to turn this vision into reality.”

The first stage of the plans is to build solar energy fields across the Sahara desert, utilising concentrated solar power technology (CPS), which uses parabolic mirrors to focus the sun’s rays on containers of water.

The super-heated water will power steam turbines to generate electricity 24 hours a day, which will then be transported great distances to Europe, using hi-tech cables that suffer little conductive loss of power.

Caio Koch-Weser, Vice Chairman Deutsche Bank, said: “We are pleased to participate in the Desertec Industrial Initiative and explore with our partners the feasibility of this trailblazing project. The initiative shows in what dimensions and on what scale we must think we are to master the challenges from climate change both in ecological and economic terms.”

Dr. Hervé Touati, Managing Director of E.ON, said his company shares Desertec’s vision of harnessing solar power: “E.ON is convinced that the future belongs to solar technology in the long term.”

Based in Munich, the initiative has had great support from the German government.