In a trailblazing push for renewable energy, the United Arab Emirates, Italy, and Albania sealed a groundbreaking deal worth at least 1 billion euros ($1 billion) to establish subsea interconnection for renewable energy across the Adriatic Sea. The agreement was announced on Wednesday at the World Future Energy Summit in Abu Dhabi.

According to the Italian Prime Minister, Giorgia Meloni, "We are very convinced by this project, which involves our three governments as well as our private sector and grid operators." The collaboration aims to combine each country's strong points: expertise in renewable energy in the UAE, abundant natural resources in Albania, and a developed energy market in Italy.

As an example, COP28 President, UAE Minister of Industry and Advanced Technology Dr. Sultan Al Jaber, stressed how global interconnectivity will shape the realization of climate goals, saying: "The new era of global interconnectivity is crucial to deliver on the promise of tripling renewable energy, decarbonization, energy access, and economic growth."

The focus of the project will be green power produced in Albania that is transmitted into Italy via submarine cables. Submarine infrastructure is intended to link Albania's Vlore port with Puglia in the south of Italy, where it is at its narrowest. Albanian Prime Minister Edi Rama said the project would come into operation within three years.

This partnership will also involve Italy's grid operator Terna and the UAE's National Energy Company (Taqa), which will be crucial for the development and operation of the infrastructure. The agreement was signed by Dr. Sultan Al Jaber, Italian Minister of the Environment and Energy Security Gilberto Pichetto Fratin, and Albanian Deputy Prime Minister Belinda Balluku. It sets a new benchmark in international collaboration for renewable energy.