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.
The 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.
Announced on the sidelines of the High-Level Dialogue on Grid Interconnectivity at Abu Dhabi Sustainability Week, the tripartite strategic partnership framework marks a significant step towards enhancing energy security, promoting sustainable development, and accelerating the transition to clean energy in the Mediterranean region.
It outlines key areas of cooperation between the UAE, Italy, and Albania, including the deployment of gigawatt-scale renewable energy projects in Albania, focusing on solar photovoltaics, wind, and hybrid solutions with potential battery storage. A significant portion of this renewable energy will be transmitted to Italy.
Additionally, the partnership will oversee the implementation of a cross-border electricity transmission interconnection linking Albania and Italy.
HE Dr. Sultan Al Jaber said, “The new era of global interconnectivity is essential for meeting the commitment to triple renewable energy, drive decarbonisation, increase energy access, and boost economic growth.
“By leveraging the UAE’s world-class expertise in renewable energy, Albania’s abundant natural resources, and Italy’s sophisticated energy market, we are connecting nations in far-sighted collaboration for the development and sharing of renewable energy capacity across the Mediterranean. The UAE is proud to be, once again, at the forefront of the global energy system transformation.”
HE Gilberto Pichetto Fratin commented, “We are very pleased to be part of the tripartite strategic partnership framework aimed at strengthening cooperation with countries with great potential to develop cost-effective renewable energy, which will further increase Italy’s role as an energy and renewables hub in the Mediterranean. The partnership also elevates our collaboration with Balkan countries in the energy sector, which is relevant for Italy and the European Union, thereby reinforcing regional cooperation.
“This tripartite strategic partnership framework demonstrates that reaching the ambitious climate objectives set in Dubai during COP28 is only possible through global coordination and green energy cooperation.”
HE Belinda Balluku added, “This strategic partnership is a momentous step for Albania as we move forward with our renewable energy ambitions. By joining forces with the UAE, a global leader in renewable energy innovation, and Italy, with its advanced energy infrastructure and market expertise, we are unlocking immense potential for sustainable growth.
“Albania’s abundant natural resources, coupled with the strengths of our partners, will not only drive the green energy transition but will also create long-term economic and job opportunities. Together, we are laying the foundation for a greener, more resilient energy future for the Mediterranean region and beyond.”
The framework follows the signing of a joint venture term sheet between Masdar and Korporata Elektroenergjitike Shqiptare (KESH) – Albania Power Corporation – on the sidelines of COP29 in November last year to establish a strategic partnership to develop, construct, and operate renewable energy projects in Albania utilising a range of renewable technologies, including solar PV, wind, and hybrid solutions, with potential integration of battery storage.
In attendance were H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs; H.H. Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Special Affairs; HE Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Advisor to His Highness the UAE President; and HE Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation; along with a number of senior officials.
SOURCE & CREDITS: wam.ae