Says this article at PV-Tech. They cite Munich Re renewable energy spokesman Stefan Straub like this:
“The concept phase is closed and something new needs to be developed. The three main companies that remain in Dii will continue this development as they are industrial companies and project leading companies, which we are not.”
But he added that Munich RE was not done with projects in the region, as it just reinsured Noor 1, one of the biggest solar projects in North Africa, which also happens to be run by ACWA Power, one of the remaining shareholders in Dii. “Of course we still support the idea to have solar power developed in the desert regions,” said Straub.
In other words, it made sense to distribute the cost for writing reports in the “concept phase” widely among interested companies. It makes less sense to do so once the concept is clear and you move on into developing actual projects.
And, as far as Munich Re is concerned, they will still help renewable energy in Northern Africa as part of their business, like with the Noor 1 project.
That’s welcome news. I have Munich Re in my list of global warming stocks (and own some stock of the company) because I like their approach to renewable energy. I might have wanted to change that opinion if I thought their move out of the Dii means that they are suddenly opposed to solar in the Sahara.