Italy, Albania, and the United Arab Emirates finalized a significant agreement on Wednesday, valued at a minimum of 1 billion euros ($1 billion), to establish a subsea interconnection for renewable energy across the Adriatic Sea.
Italian Prime Minister Giorgia Meloni expressed strong confidence in the initiative, which involves collaboration among the three governments, private sector stakeholders, and grid operators, during her announcement at the World Future Energy Summit in Abu Dhabi.
This trilateral partnership aims to generate green energy in Albania and transmit it to Italy via underwater cables. Albanian Prime Minister Edi Rama noted that the project will include the Italian grid operator Terna and the UAE’s National Energy Company. He further mentioned that the infrastructure will link the Albanian port of Vlore to the southern Italian region of Puglia, the closest point between the two nations, with an anticipated operational timeline of no more than three years.
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