UAE signs strategic partnership with Italy, Albania

Sharjah24 - WAM: In the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan; Her Excellency Giorgia Meloni, Prime Minister of Italy; and His Excellency Edi Rama, Prime Minister of Albania, the UAE, Italy, and Albania have signed a landmark tripartite strategic partnership framework to enhance cooperation in renewable energy and energy infrastructure.

Strategic Partnership Framework Signed

The strategic partnership framework was signed by His Excellency Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President, and Chairman of Masdar; His Excellency Gilberto Pichetto Fratin, Italian Minister of the Environment and Energy Security; and Her Excellency Belinda Balluku, Albanian Deputy Prime Minister and Minister of Infrastructure and Energy. This announcement occurred during the High-Level Dialogue on Grid Interconnectivity at Abu Dhabi Sustainability Week.

Enhancing Energy Security and Development

This tripartite strategic partnership marks a significant step towards enhancing energy security, promoting sustainable development, and accelerating the transition to clean energy in the Mediterranean region. The framework outlines key cooperation areas, including deploying gigawatt-scale renewable energy projects in Albania, focusing on solar photovoltaics, wind, and hybrid solutions with potential battery storage. A portion of this renewable energy will be transmitted to Italy, alongside overseeing the implementation of a cross-border electricity transmission interconnection linking Albania and Italy.

Leaders Emphasize Collaboration for a Greener Future

Dr. Sultan Al Jaber emphasised the importance of global interconnectivity in meeting renewable energy commitments and driving decarbonisation. HE Gilberto Pichetto Fratin highlighted Italy's role as an energy hub in the Mediterranean, while HE Belinda Balluku noted the immense potential for sustainable growth through Albania's partnership with the UAE and Italy. This framework follows the signing of a joint venture term sheet between Masdar and the Albanian Power Corporation (KESH) to develop renewable energy projects in Albania. The event was attended by various senior officials, underscoring the collaborative spirit of this initiative.