Italy, Albania, UAE sign trilateral clean energy cooperation agreement
Date
1/15/2025 7:35:25 AM
(MENAFN) Italy, Albania, and the United Arab Emirates have signed a trilateral clean energy cooperation agreement aimed at leveraging the UAE's expertise to develop renewable energy projects in Albania. The deal includes the production of solar, wind, and other renewable energy sources, with a portion of the generated electricity to be transferred to Italy via an underwater cable. Italian Premier Giorgia Meloni announced the agreement during her visit to Abu Dhabi, highlighting the deepening partnership between Italy and Albania, which extends beyond their existing migration agreements.
Albanian Premier Edi Rama estimated the value of the energy agreement at approximately 1 billion euros. The deal is expected to enhance Albania's renewable energy capacity while supporting Italy's efforts to secure sustainable electricity to meet its long-term needs. Meloni emphasized that the partnership aligns with Italy's commitments to sustainability made at U.N. climate conferences and reflects a pragmatic approach to transitioning away from fossil fuels, especially amid rising energy demands driven by the growth of AI-powered technologies.
Meloni described the agreement as a forward-looking initiative, blending sustainability with innovation. She pointed to nuclear fusion as a potential clean and safe energy solution for the future and stressed the importance of balancing energy transition with technological advancement. She also acknowledged the unusual nature of the partnership, given the geographical distance between the three countries, and praised the collaboration as an example of effective international cooperation.
This three-way energy arrangement marks a significant step in Italy's energy strategy, while also bolstering Albania's economic and energy infrastructure and showcasing the UAE's expertise in renewable energy. The agreement underscores the interconnected nature of global energy challenges and highlights the importance of cross-border partnerships in achieving shared sustainability goals.
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