Italy, Albania, UAE Sign €1 Billion Deal for Renewable Energy Via Adriatic Undersea Cable

Jan 15, 2025, 08:22 AM

Italy, Albania, and the United Arab Emirates have signed a deal to establish an energy interconnection project valued at around €1 billion. The agreement aims to produce and transport renewable energy from Albania to Italy via an undersea cable in the Adriatic Sea. Italian Prime Minister Giorgia Meloni, speaking at the Abu Dhabi Sustainability Week, expressed pride in the initiative, highlighting its role in fostering new forms of cooperation among seemingly distant partners. Albanian Prime Minister Edi Rama stated that the infrastructure, involving companies such as TAQA from the UAE and Terna from Italy, would be operational within three years at the most. The project is seen as a step towards Italy's goal of becoming a strategic hub for energy flows between Europe and Africa.