The UAE, Italy, and Albania, in the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, signed a landmark tripartite strategic partnership framework on Wednesday, to enhance cooperation in renewable energy and energy infrastructure.
The framework was signed by Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President, and Chairman of Masdar, 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.
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.
Also in attendance were In attendance were His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, His Highness Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Special Affairs, Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Advisor to His Highness the UAE President; and Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation, along with a number of senior officials.
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