Italy, Albania and UAE ink clean energy cooperation deal

Date:

Share post:


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.

Italian Premier Giorgia Meloni traveled to Abu Dhabi to announce the deal, which further cements Italy’s partnership with Albania beyond the migration deal that saw Italy build two migrant detention centers in the Balkan country to process the asylum requests of some migrants.

Albanian Premier Edi Rama valued the energy deal at around 1 billion euros.

Meloni said the three-way arrangement would help Italy meet its long-term electricity needs while honoring its sustainable energy commitments made at U.N. climate conferences. She praised it as pragmatic way to transition away from fossil fuels at a time when energy needs are soaring due to the demand from AI-generated technologies.

“The future of energy transition and digitization will thus depend on our ability to strike a balance between sustainability and innovation,” she said, adding that nuclear fusion could be another way to produce clean and safe energy. 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 nation, 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 help meet the goal of tripling renewable energy.

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 time mentioned fossil fuels — coal, oil and natural gas — as the cause of climate change and said the world needs to be “transitioning away” from them.



Source link

Lisa Holden
Lisa Holden
Lisa Holden is a news writer for LinkDaddy News. She writes health, sport, tech, and more. Some of her favorite topics include the latest trends in fitness and wellness, the best ways to use technology to improve your life, and the latest developments in medical research.

Recent posts

Related articles

Target is ending DEI goals as workplace inclusion gets strong opponent in White House

NEW YORK -- Discount store chain Target said Friday that it would join rival Walmart and a...

Corporate Transparency Act still on hold after Supreme Court lifts injunction

NEW YORK -- Small businesses are still not required to register with an agency called the Financial...

US economic losses from natural disasters soared in 2024, even as they eased globally

Economic losses from hurricanes and other natural disasters soared in the U.S. last year and were above...

Ford recalls more than 270,000 Broncos and Mavericks due to loss of power problem

BANGKOK -- Ford Motor Co. is recalling 272,827 Broncos and Mavericks due to a power problem that...

Syria's economic pains far from over despite Assad's ouster

DAMASCUS, Syria -- Samir al-Baghdad grabbed his pickax and walked up a wobbly set of stairs made...

Bank of Japan raises interest rate to about 0.5%, citing higher wages and inflation

TOKYO -- The Bank of Japan raised its key interest rate to about 0.5% from 0.25% Friday,...

Utah Republicans take aim at teachers unions amid political clash over education

SALT LAKE CITY -- Utah lawmakers advanced a bill Thursday that experts say would establish one of...

Boeing took nearly $3 billion hit in Q4 related to strike, layoffs and troubled government programs

Boeing Co. said it incurred nearly $3 billion worth of charges in the fourth quarter of 2024...