Cross-Adriatic Energy Pathway: Italy, Albania, and UAE Unite for Renewable Future

Italy, Albania, and the UAE have struck a €1 billion deal to construct a subsea interconnection across the Adriatic Sea, fostering renewable energy importation. This initiative will enhance energy security, promote sustainable development, and expedite the clean energy transition in the Mediterranean region, involving Italian grid operator Terna and UAE's Taqa.

In a momentous collaboration, Italy, Albania, and the United Arab Emirates (UAE) have inked a deal valued at over €1 billion to establish a subsea interconnection for renewable energy transfer across the Adriatic Sea. This project is set to bolster current energy links extending 430 km along the Adriatic seabed, streamlining Italy's connections to Montenegro and other Balkan regions to enhance efficiency and competitiveness, as stated by Italian Prime Minister Giorgia Meloni.

The partnership aims to significantly boost energy security, advance sustainable development, and expedite the transition to clean energy in the Mediterranean, according to a joint statement from the three nations. The agreement with Albania, aligned politically with Meloni's government, complements an initiative for building an electricity link between Italy and Tunisia, intended to amplify the Mediterranean region's power flow capacity.

Italian grid operator Terna and UAE's National Energy Company (Taqa) will spearhead the tri-nation effort, Albanian Prime Minister Edi Rama announced. He highlighted that the infrastructure will connect Vlore, a port in Albania, to Italy's Puglia region, the closest point between the two countries, aiming for operational status within three years. The initiative allows Albania to export domestically generated renewable energy, diversifying its energy mix whilst leveraging the UAE's pioneering renewable energy expertise and Italy's advanced energy markets.

(With inputs from agencies.)