Italy, Albania and the United Arab Emirates (UAE) have signed a cooperation deal valued at a minimum of €1bn ($1.02bn) to establish a subsea interconnection to import renewable energy across the Adriatic Sea, as reported by Reuters.

Albania, the United Arab Emirates, and Italy finalized a strategic tripartite agreement focused on <a target=_blank href=

ROME -- Italy, Albania and the United Arab Emirates signed a three-way clean energy 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 energy, some of which would then be transferred to Italy via an underwater cable.

Italy, Albania and the United Arab Emirates (UAE) signed on Wednesday a deal worth at least 1 billion euros ($1 billion) to build a subsea interconnection to import renewable energy across the Adriatic Sea.

Albania, Italy and the United Arab Emirates (UAE) signed an agreement on January 15 on a project valued at around €1bn to build a subsea interconnection to facilitate the transfer of renewable energy across the Adriatic Sea.

The UAE is lending technology and expertise for the project. View on euronews

The UAE, Italy and Albania are teaming up to build a subsea interconnector for exporting renewable energy across the Adriatic. As part of the deal, green power produced in Albania will be exported to Italy through an undersea cable,