It’s worth keeping in mind that solar energy does not necessarily mean the big energy companies go away.

A $400 billon (£240 billion) plan to provide Europe with solar power from the Sahara desert moved a step closer to reality with the formation of a consortium of 12 companies to carry out the work. Known as the Desertec Industrial Initiative (DDI), the German-led consortium consists of some of country’s biggest engineering and power companies, along with Munich Re, the largest reinsurer in the world.

The DDI believes it can deliver solar power to Europe as early as 2015. It aims to provide 15% of Europe’s electricity by 2050 or earlier via power lines stretching across the desert and Mediterranean Sea.

That’s a pretty big goal. If they pull it off, though, the whole project could become a model for others to follow, and show other big energy companies how to stay in the game after coal, oil, and gas are gone.