What+are+the+known+obstacles?

As stated earlier, a large hurdle to overcome for this process to begin is the initial cost. Like many power plants, solar and wind technologies are vastly up-front costs with relatively little O+M. Therefore a plethora of investors needed to make this transnational energy matrix possible. On the downside those investors need to feel comfortable investing in renewable energy systems the scale of which have never been seen, for which there are no regulations, which will be connected into a grid that will cross numerous nations and continents and run by several volatile nations and thousands of new companies. This has many potential investors worried based on the assumption that the risks far outweigh the benefits.

To begin tackling the commercial viability of renewable energy systems, the first mentioned hurdle, there need to be feed-in tariffs or governmental aid programs implemented to alleviate some of the initial costs and risks [9]. There could be additional feed-in tariffs that support renewable technologies over local fossil fuel, a process already begun in the EU by allowing members to import renewable energy with the purpose of complying with national renewable energy targets. In many MENA nations power power utilities are required to provide least-cost electricity to citizens. This process currently holds back MENA nations from wanting to heavily invest in a large-scale renewable systems [14]. Thus it is likely that national and regional governments will need to be involved in the process to at the very least create the appropriate regulations and restrictions to allow the evolution of a transnational energy system. Additionally, it has been cited that investors should be guaranteed a long-term Power of Purchase Agreement (PPA) backed by international insurance entities to reduce the cost of financing and risk. On the flipside, the combination of tong-term PPA's and tariffs can create a significant added value for the national energy economy in which the renewables are implemented.

The concern of 'crossing numerous nations' is, for the most part, a moot point. Already fossil fuels are transmitted throughout the world through pipelines and by sea. Running power lines under seas and across nations is little different. There is, however, a bonus that has been stated previously: having such a grid in place enables nations to 'jump' their imports (or exports) from one line to the next very quickly when necessary, provided that the network of renewable energy is spread out as has been previously mentioned. This process can effectively create a relatively stable and secure energy network relying on decentralized power plants to power a centralized network.

Numerous investors have noted concerns over volatility of nations and the potential for power to be cut (i.e. investment lost). A relatively in-depth study into these concerns was conducted [11] to address (A) the potential for terrorism (non-governmental action) and (B) direct interference by the nation's government in the energy sector. Terrorist attacks have proven to be rare with current fossil fuel driven power plants and renewable energy systems are not likely to be significantly more vulnerable to attack. It was also concluded that the MENA nations have not proven to be wrought with devastating wars in the last few decades (note this is before the recent upheaval in North Africa), and even in the wars that occurred the energy supplies were rarely effected. Additionally a nation supplying Europe would not have the option of monopolization of energy: there are simply dozens of other potential sources for energy to meet demand. There are additional political constraints that nation would also have to face: cutting ties to the electrical grid damages all of your neighbors, not simply the one neighbor you wish to affect. Such an action would similarly reduce national reputation with international investors. Lastly, the article noted the cultural differences between Eastern European energy geopolitics and North African, which differ significantly and cannot be used as a parallel for concern. The study conclusively stated that the most common assumptions and concerns of European investors in relation to MENA renewable energy hold no more ground than the current fossil-fuel based system (which is already heavily invested in).