Companies Trumpet African Solar Project

One of the best parts about renewable energy companies are the press releases announcing new initiatives. Unlike most other industries, green energy firms have that most unique, and most dangerous, of commodities in their favor: hope.

And as one solar proponent, President Obama, has learned in his first few months in office, it's often difficult to turn hope into tangible results.

But a consortium of companies in Europe, across a swath of sectors, is sure going to try. The group of 12 signed a Memorandum of Understanding in Munich today to begin the so-called Desertec Industrial Initiative -- an enormous plan to build solar facilities and other renewable energy sources in North African deserts. ...