Planning is advancing to create the world’s first solar energy station in space, capturing the sun’s rays 24 hours a day and providing the planet with a clean power source.
The futuristic project, which if successful could have a major impact on combating climate change, is being developed by British firm Space Solar, with financial support from Saudi Arabia.
Within six years, Space Solar aims to have a trial project providing six megawatts of power from low Earth orbit, eventually leading to a two-gigawatt power station in high geostationary orbit by 2035.
Sam Adlen, joint chief executive of Space Solar, welcomed the collaboration.
“There’s a real partnership to be developed that can have a huge impact on the future of net zero, energy security and help create an era-defining, new energy source,” he said. "Space-based solar power is the ultimate form of clean, dependable energy and our vision is for clean, affordable energy from space."
With the race for cosmic energy potentially highly lucrative, UK Business Secretary Grant Shapps suggested that “collaboration in space” could “unlock significant commercial opportunities”.
He travelled to Saudi Arabia last week to meet Abdullah Al Swaha, Minister of Communications and chairman of the Saudi Space Commission.
Science fact
For almost a century, the idea of using sonar panels in space to beam electricity down to Earth has largely been in the imagination, with Isaac Asimov writing a short story on the idea in 1941 before a more serious proposal in the 1960s.
Fantasy is now turning into reality.
“This has been science fiction for decades,” space systems architect Matt O’Donnell told The National.
“The calculations around the physics involved with the distances does require very, very large structures in space, building something that's truly enormous, the largest structure ever built by mankind.”
Viable space
Once the technology is developed and tested with smaller models, the power stations in space would cost the equivalent of a nuclear plant to build — about $10 billion — with a similar output of two gigawatts, enough to power more than 1.5 million homes.
With 5km-wide solar panels and at several times the size of the International Space Station, the structure would have to be assembled in space, with parts sent up via numerous rocket launches.
But that is becoming more financially viable, with the returnable rockets of SpaceX missions bringing down the costs.
A British government study has already concluded that space-based solar energy is viable. Another report from Nasa on the subject will be released later this year.
“That makes it look like a believable concept to the energy people who have got massive contracts to build and run enormous terrestrial power stations safe and well,” said Mr O’Donnell, of the global aerospace firm Airbus.
“With the gradual reduction in launch prices and hardware costs and improvements in putting robotics into space, the feeling is that with those three things we're on the cusp, where it could become technologically and economically viable within the next decade, but in order to get to that point we need to start now.”
Space Solar, based near Oxford, also argued that the government studies confirmed that the space energy is now technically viable and economically competitive with other renewables.
“It has low environmental impact, in land usage, carbon footprint and mineral resources,” its website stated. “The technology is highly flexible and can export energy to other co-operating nations without expensive fixed infrastructure such as underwater power cables. It can be switched rapidly to power hydrogen generation or water desalination plants, as well as providing electricity into the grid.”
How it works
Space Solar says the system comprises a kilometre-scale satellite in a high Earth orbit. It features lightweight solar panels and a system of mirrors to concentrate sunlight on to the panels.
The electricity generated is converted into high-frequency radio waves and the power is beamed to a receiving antenna at a fixed point on the ground below.
A ground receiver would likely be the North Sea, but it could also be in the futuristic city of Neom, the metropolis in north-west Saudi Arabia that will be entirely powered by carbon-free electricity.
The spacecraft’s solar array could easily be redirected from the North Sea to Neom.
Doubling demand
With the Earth’s population expected to exceed 10 billion by 2050 — the date set for net zero in global carbon emissions — the demands for clean energy are going to be immense.
One calculation suggests that Britain alone will need a 2km-wide belt of wind farms around its entire coastline to supply clean energy for its 68 million population.
With at least three billion people in the developing world requiring clean energy rather than fossil fuels — and that population is set to grow — the demand for energy globally will be extremely high.
“They could double especially with increased movement of population into cities and with the rest of the world needing access to good, clean energy,” said Mr O’Donnell.
“We can't do this with the existing technologies at sufficient scale, so all the ideas need to be on the table, including nuclear, more battery storage and the potential for space-based solar power.”
Airbus interest
Airbus, which manufactures nearly all the world’s aircraft wings as well as commercial and military satellites, has a keen interest in the project.
“We think it's important for building sustainable societies and the use of space to support the climate,” said its space expert Mr O’Donnell.
“Delivering power from space to replace fossil fuels is a novel way of making a direct contribution. Also, Airbus, as a system-of-systems integrator, understands how supply chains and management of complex things work that have safety of life implications.”
He added that with continued development in the wider world, billions of people “are going to want more energy and they should be given clean energy from the start”.
SaxaVord spaceport — in pictures
How to become a Boglehead
Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.
• Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.
• Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.
• Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.
• Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.
• Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.
• Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.
• Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.
• Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.
A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
Russia's Muslim Heartlands
Dominic Rubin, Oxford
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Results
6.30pm: The Madjani Stakes (PA) Group 3 Dh175,000 (Dirt) 1,900m
Winner: Aatebat Al Khalediah, Fernando Jara (jockey), Ali Rashid Al Raihe (trainer).
7.05pm: Maiden (TB) Dh165,000 (D) 1,400m
Winner: Down On Da Bayou, Royston Ffrench, Salem bin Ghadayer.
7.40pm: Maiden (TB) Dh165,000 (D) 1,600m
Winner: Dubai Avenue, Fernando Jara, Ali Rashid Al Raihe.
8.15pm: Handicap (TB) Dh190,000 (D) 1,200m
Winner: My Catch, Pat Dobbs, Doug Watson.
8.50pm: Dubai Creek Mile (TB) Listed Dh265,000 (D) 1,600m
Winner: Secret Ambition, Tadhg O’Shea, Satish Seemar.
9.25pm: Handicap (TB) Dh190,000 (D) 1,600m
Winner: Golden Goal, Pat Dobbs, Doug Watson.
Ferrari 12Cilindri specs
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