Italy, Albania and the UAE have signed a deal valued at at least €1bn ($1.02bn) to establish a subsea interconnection across the Adriatic.

Italy, Albania and the United Arab Emirates have signed a three-way clean energy cooperation deal. It calls for the Gulf country’s expertise to be put to use in Albania to produce solar, wind and other renewable energy,

ABU DHABI (Reuters) - Italy, Albania and the United Arab Emirates signed on Wednesday a deal worth at least 1 billion euros ($1 billion) to build a subsea interconnection for 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 United Arab Emirates, Italy, and Albania plan to cooperate on gigawatt-scale renewable projects in Albania and a cross-border transmission link to deliver power to Italy.

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