ROME — Italy, Albania and the United Arab Emirates signed a three-way tidy vigor cooperation deal Wednesday that calls for the Gulf country’s expertise to be put to use in Albania to produce solar, wind and other renewable vigor, some of which would then be transferred to Italy via an underwater cable.
Italian Premier Giorgia Meloni traveled to Abu Dhabi to announce the deal, which further cements Italy’s collaboration with Albania beyond the migration deal that saw Italy construct two migrant detention centers in the Balkan country to procedure the asylum requests of some migrants.
Albanian Premier Edi Rama valued the vigor deal at around 1 billion euros.
Meloni said the three-way arrangement would assist Italy meet its long-term electricity needs while honoring its sustainable vigor commitments made at U.N. climate conferences. She praised it as pragmatic way to shift away from fossil fuels at a period when vigor needs are soaring due to the demand from AI-generated technologies.
“The upcoming of vigor shift and digitization will thus depend on our ability to strike a equilibrium between sustainability and innovation,” she said, adding that nuclear fusion could be another way to produce tidy and secure vigor. She acknowledged the unusual nature of the three-way deal, noting the “seemingly distant partners, at least geographically speaking.”
The UAE, a major oil-producing country, has pledged to be carbon-neutral by 2050 and hosted the COP28 climate summit last year.
Sultan al-Jaber, the UAE’s minister of industry and technology, said the deal would assist meet the objective of tripling renewable vigor.
Al-Jaber, the chairman of Masdar and CEO of the Abu Dhabi National Oil Co., a state-owned firm producing millions of barrels of crude oil daily, was president of the COP summit. It for the first period mentioned fossil fuels — coal, oil and natural gas — as the factor of climate transformation and said the globe needs to be “transitioning away” from them.