Consortium outlines massive solar project Desertec

A group of twelve companies including Siemens AG, RWE AG and E.ON AG, Munich Re AG, Deutsche Bank G outlined a massive solar project in North Africa called Desertec which aims to provide 15 percent of the energy needed in Europe by 2050. The project is estimated to cost about $555 billion, according to the German Aerospace Center, the Associated Press reported.

Honda to turn Fit, CR-Z vehicles into hybrids

Honda Motor Co. Chief Executive Officer Takanobu said on Monday it plans to make a hybrid version of its compact car Fit model and the CR-Z sports car in 2010 as buyers seek more for fuel economy and environmental friendly vehicles, Reuters reported. Takanoby said the company will focus its activities in bringing hybrids to consumers.

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