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, Italian Prime Minister Giorgia Meloni said at the World Future Energy Summit in Abu Dhabi on Wednesday.
The total value of the deal is €1 billion ($1 billion) and the project is expected to be operational within three years, according to a report by Italy's Ansa news agency.
“We strongly believe in this project involving our three governments, as well as our private sector and grid operators,” Ms Meloni said. The initiative “tangibly shows new forms of co-operation can be built even among seemingly distant partners, at least geographically speaking."
She added that developing interconnections can be the keystone of a "new energy diplomacy, to multiply opportunities for co-operation among us and generate shared benefits for all".
The three countries signed the agreement in the presence of President Sheikh Mohamed, Ms Meloni and Prime Minister of Albania Edi Rama and the partnership marks “a significant step towards enhancing energy security, promoting sustainable development, and accelerating the transition to clean energy in the Mediterranean region”, Wam reported.
The agreement outlines key areas of co-operation including the deployment of gigawatt-scale renewable energy projects in Albania, focusing on solar photovoltaics, wind and hybrid solutions with potential battery storage. A significant portion of this renewable energy will be transported to Italy.
“The new era of global interconnectivity is essential for meeting the commitment to triple renewable energy, drive decarbonisation, increase energy access and boost economic growth,” Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Cop28 President and chairman of Masdar, said.
“By leveraging the UAE's world-class expertise in renewable energy, Albania's abundant natural resources and Italy's sophisticated energy market, we are connecting nations in far-sighted collaboration for the development and sharing of renewable energy capacity across the Mediterranean.”
Mr Rama said the deal is an "important step for the region and also for Europe, and would not have been possible "without the significant collaboration with the UAE".
He also said Albania's renewable energy share in final energy demand amounts to 44 per cent and that "this makes Albania part of the top list of the European countries, together with Scandinavian countries, in terms of how much the renewable energy share is in final energy demand as a number".
The latest deal follows the signing of a preliminary joint venture agreement between Masdar and Albania's state power utility Kesh on the sidelines of Cop29 in November to establish a strategic partnership to develop, construct and operate renewable energy projects in Albania.
“Albania’s abundant natural resources, coupled with the strengths of our partners, will not only drive the green energy transition but will also create long-term economic and job opportunities,” Belinda Balluku, the country's Deputy Prime Minister and Minister of Infrastructure and Energy, said.
There is an increased pressure on the international community to boost efforts to meet the global goal of tripling renewable energy capacity and doubling energy efficiency by 2030. The goals are critical to maintaining the 1.5°C threshold established in the Paris Agreement in 2015, a treaty in which 195 nations pledged to tackle climate change.
In October, the International Renewable Energy Agency said global investment in renewable energy must triple to $1.5 trillion annually by 2030 to meet its renewables goal. Despite record spending of $570 billion in 2023, national plans are set to deliver only half of the required renewable power growth, the Abu Dhabi-based agency said after the pre-Cop29 talks in Azerbaijan.
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What is an FTO Designation?
FTO designations impose immigration restrictions on members of the organisation simply by virtue of their membership and triggers a criminal prohibition on knowingly providing material support or resources to the designated organisation as well as asset freezes.
It is a crime for a person in the United States or subject to the jurisdiction of the United States to knowingly provide “material support or resources” to or receive military-type training from or on behalf of a designated FTO.
Representatives and members of a designated FTO, if they are aliens, are inadmissible to and, in certain circumstances removable from, the United States.
Except as authorised by the Secretary of the Treasury, any US financial institution that becomes aware that it has possession of or control over funds in which an FTO or its agent has an interest must retain possession of or control over the funds and report the funds to the Treasury Department.
Source: US Department of State
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
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Killing of Qassem Suleimani
National Editorial: Suleimani has been killed, now we must de-escalate
Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
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"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
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MATCH INFO
Qalandars 112-4 (10 ovs)
Banton 53 no
Northern Warriors 46 all out (9 ovs)
Kumara 3-10, Garton 3-10, Jordan 2-2, Prasanna 2-7
Qalandars win by six wickets
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National Editorial: Suleimani has been killed, now we must de-escalate
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'Avengers: Infinity War'
Dir: The Russo Brothers
Starring: Chris Evans, Chris Pratt, Tom Holland, Robert Downey Junior, Scarlett Johansson, Elizabeth Olsen
Four stars
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AT4 Ultimate, as tested
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UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
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The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part two: how climate change drove the race for an alternative
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Part three: an affection for classic cars lives on
Read part two: how climate change drove the race for an alternative
Read part one: how cars came to the UAE
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• Could the UAE drive India's economy?
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T20 World Cup Qualifier A, Muscat
Friday, February 18: 10am - Oman v Nepal, Canada v Philippines; 2pm - Ireland v UAE, Germany v Bahrain
Saturday, February 19: 10am - Oman v Canada, Nepal v Philippines; 2pm - UAE v Germany, Ireland v Bahrain
Monday, February 21: 10am - Ireland v Germany, UAE v Bahrain; 2pm - Nepal v Canada, Oman v Philippines
Tuesday, February 22: 2pm – semi-finals
Thursday, February 24: 2pm – final
UAE squad: Ahmed Raza (captain), Muhammad Waseem, Chirag Suri, Vriitya Aravind, Rohan Mustafa, Kashif Daud, Zahoor Khan, Alishan Sharafu, Raja Akifullah, Karthik Meiyappan, Junaid Siddique, Basil Hameed, Zafar Farid, Mohammed Boota, Mohammed Usman, Rahul Bhatia
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Matthew Levitt: Iran retains its ability to launch terror attacks
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PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
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Tomorrow 2021
KILLING OF QASSEM SULEIMANI
National Editorial: Suleimani has been killed, now we must de-escalate
Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Jack Moore: Why the assassination is such a monumental gamble
Matthew Levitt: Iran retains its ability to launch terror attacks
Damien McElroy: A CEO tasked with spreading Iran's influence
Hussein Ibish: Trump's order on solid constitutional ground
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Racecard
6pm: Al Maktoum Challenge Round 2 Group 1 (PA) $55,000 (Dirt) 1,900m
6.35pm: Oud Metha Stakes Rated Conditions (TB) $60,000 (D) 1,200m
7.10pm: Jumeirah Classic Listed (TB) $150,000 (Turf) 1,600m
7.45pm: Firebreak Stakes Group 3 (TB) $150,000 (D) 1,600m
8.20pm: Al Maktoum Challenge Round 2 Group 2 (TB) $350,000 (D) 1,900m
8.55pm: Al Bastakiya Trial Conditions (TB) $60,000 (D) 1,900m
9.30pm: Balanchine Group 2 (TB) $180,000 (T) 1,800m
