Albania and Italy, with underwater energy connection - Trilateral agreement with the United Arab Emirates. Cost, about 1 billion euros
Albania, the United Arab Emirates and Italy join in a strategic alliance for renewable energy.
An investment agreement was signed in Abu Dhabi for the underwater connection of the energy distribution network with Italy in the Adriatic Sea, as well as for investments in increasing production from renewable sources in Albania.
For the Albanian side, the agreement was signed by Deputy Prime Minister and Minister of Infrastructure and Energy, Belinda Balluku. According to preliminary estimates, the cost of this investment is expected to be around 1 billion euros.
The signing of the agreement was preceded by the global summit "Abu Dhabi Sustainability Week", attended by Prime Minister Edi Rama and his Italian counterpart, Giorgia Meloni. During his speech, Rama focused on cooperation in the energy sector.
"I want to emphasize that Albania's partnership with the United Arab Emirates is important for a region that many wars and misunderstandings have shaped our past. Cooperation and the desire to be part of the great European family must be supported with concrete steps. The cooperation that has begun between the state-owned company KESH aims to develop up to 3 gigawatts of renewable energy. It is an important contribution not only to peace but also to cooperation in the region. Let me conclude by expressing my gratitude to someone who just entered the hall, which is Prime Minister Meloni who is here to bless this agreement between the United Arab Emirates and Albania."
According to the Prime Minister, electricity production in Albania is 100% from renewable sources and we are part of the list of European countries when it comes to the percentage of renewable energy.
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