Categories: Press Releases Date: Dec 9, 2010 Title: Nur Energie becomes a Founding Shareholder of MedGrid (formerly TransGreen)
Nur Energie strengthens its core strategy of producing green energy in North Africa to export to Europe by becoming a Founder Shareholder of Medgrid
Nur Energie announced that it has joined Medgrid (formerly TransGreen), an initiative launched by the French Government to promote renewable energy export from North Africa, as a Founding Shareholder.
MedGrid responds to a strong need for underwater direct current interconnections (HVDC) between the two shores of the Mediterranean Sea that allows co developments of electricity exchanges in the Mediterranean basin.
Additional signatory companies of this industrial initiative are Abengoa, AFD, Alstom, Areva, Atos Origin, CDC Infrastructure, EDF, Ineo GDF-Suez, Nemo, Nexans, ONE, Pan Med Trading & Investment, Prysmian, RED Electrica de España, RTE, Siemens, Soitec, Taqa Arabia, Terna, Veolia and Walid Establishment Syrie
“The activities of Medgrid are perfectly in line with our own strategy in the Mediterranean region. We believe that the mutual benefits will be significant, with us bringing already advanced and dynamics projects and Medgrid using its incredible industrial and political reach to accelerate their realization” commented Kevin Sara, Nur Energie CEO.
As a Founding Shareholder, Nur Energie will take part to all working groups focusing on making a significant contribution to the region's energy needs for renewable energy sources and to export energy to European countries.