Italy, Albania and the United Arab Emirates signed a deal worth at least 1 billion euros on Monday to build an underwater renewable energy interconnector across the Adriatic Sea, Reuters reported.
“We strongly believe in this project, involving our three governments, as well as our private sector and grid operators,“ Italian Prime Minister Giorgia Meloni said when announcing the deal at the World Future Energy Summit in Abu Dhabi.
The trilateral partnership, which aims to produce green energy in Albania and export it to Italy via submarine cables, will include Italian grid operator “Terna“ and the UAE National Energy Company "Taka", said Albanian Prime Minister Edi Rama.
Rama added that the infrastructure will connect the Albanian port of Vlora with the southern Italian region of Puglia, the closest point between the two countries, and is expected to be operational in a maximum of three years.