Italy, Albania, UAE Sign €1 Billion Energy Deal

Italy, Albania, and the United Arab Emirates have signed a €1 billion agreement to construct a subsea interconnector for renewable energy across the Adriatic Sea. Announced at the World Future Energy Summit in Abu Dhabi, the project aims to produce green power in Albania and export it to Italy using underwater cables. Italian Prime Minister Giorgia Meloni and Albanian Prime Minister Edi Rama both emphasized the importance of this partnership, which involves private sector and grid operators like Italy's Terna and the UAE's Taqa. The project is expected to be operational within three years and represents a significant step in fostering regional energy cooperation. This trilateral partnership underscores a commitment to renewable energy and innovative solutions in the Adriatic region.