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Desertec: UniCredit first Italian financial institution to join industrial initiative Dii as shareholder

UniCredit is the first Italian financial institution to join Dii as shareholder, the unique private industry joint venture that was launched as the 'Desertec Industrial Initiative' in July 2009.

Dii aims at creating the framework for generating sustainable and climate-friendly power from sun and wind energy in the deserts of the Middle East and North Africa (MENA) and prepare the integration with the European energy market. The long-term goal is to satisfy both a substantial part of the energy needs of the MENA countries and to meet up to 15% of Europe's electricity demand by 2050.

"We chose to become shareholders of Dii as a further step within our comprehensive sustainability strategy and to give our contribution to fight climate change - stated Mr. Vittorio Ogliengo, Head of Global Financing and Advisory -. UniCredit is strongly committed to reducing its internal greenhouse gases emissions and to provide its customers with financially suitable solutions for the development of the green economy. We firmly believe that the Desertec vision is key for the transition to a low carbon economy and for sustainable growth in the 21st century and are very much pleased to be part of Dii."

Paul van Son, CEO of the Dii: "We are very proud that UniCredit joins our industry initiative. Our aim is to create a renewable energy partnership in the Mediterranean region. This will involve investments, the development of new industries in MENA countries, the creation of jobs and the transfer of knowledge and know-how. The ever-increasing support of highly notable financial institutions such as UniCredit proofs that large-scale renewable energy development is also regarded as an attractive and promising business opportunity."

UniCredit, as unique italian bank shareholder, play an active role in developping the project. Davide Mereghetti, Massimo Pecorari and Simone Marcucci represent UniCredit in Dii Shareholders Assembly.



About UniCredit

UniCredit is a major international financial institution with strong roots in 22 European countries and an overall international network present in approximately 50 markets, with 9,600 branches, and more than 161,000 employees as of 30 September 2010.
In the CEE region, UniCredit operates the largest international banking network with nearly 3,900 branches.

The Group operates in the following countries: Austria Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Germany, Hungary, Italy, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.



About Dii (

Dii is the industrial consortium founded in 2009 with the aim of realizing the Desertec vision. It is now backed by more than 50 international institutions that support Dii as shareholders or associated partners. Dii's core objectives are to
• analyze and develop a technical, economic, political and regulatory framework for feasible investments into renewable energy and interconnected grids,
• originate 2-3 reference projects to demonstrate the overall feasibility of the Desertec vision,
• develop a long-term roll-out plan for the period up to 2050 providing investment and financing guidance.

Shareholders of Dii:
ABB | Abengoa Solar | Cevital | DESERTEC Foundation | Deutsche Bank | Enel Green Power | E.ON
Flagsol | HSH Nordbank | Munich Re | M+W Group | NAREVA Holding | Red Eléctrica de España | RWE | Saint-Gobain Solar | SCHOTT Solar | Siemens | Terna (Italia) | UniCredit

Associated Partners of Dii:
3M | AGC | Audi | BASF | BearingPoint | Bilfinger Berger | Bosch Rexroth | Commerzbank | Concentrix Solar | Conergy | Deloitte | Dow Corning | Evonik Industries | FCC Energía | First Solar | FLABEG
Fraunhofer Gesellschaft | GL GARRAD HASSAN | HSBC | IBM | ILF Consulting Engineers | Italgen | KAEFER Lahmeyer International | Maurisolaire | Max-Planck-Gesellschaft | Morgan Stanley | NUR ENERGIE | OMV Schoeller Renewables | SMA Solar Technology | TERNA ENERGY (Grecia) | TÜV SÜD



Milan/Munich, 11 February 2011


Media Enquiries:

UniCredit Dii GmbH
Media Relations
Phone: +39 02 88628236  


Dii GmbH
Alexander Mohanty
Phone: +49 89 340 7705 20