The United Arab Emirates (UAE) is solidifying its international presence as it actively champions projects aimed at boosting clean electricity, aligning with the ambitious goals set by the 28th UN Climate Change Conference (COP28). Recently, Abu Dhabi Future Energy Company, known as Masdar, along with Taqa, the state-owned energy firm, and Eni, the Italian energy giant, signed a framework agreement to advance their strategic partnership for clean energy projects.
The signing was graced by prominent figures, including UAE President Sheikh Mohamed bin Zayed and Italian Prime Minister Giorgia Meloni, reflecting the high-level commitment to this initiative. This collaboration is focused on establishing a long-term framework through which Italy will purchase renewable energy produced in Albania and transmitted via established channels.
The project's execution involves notable companies including Masdar, Taqa’s network, and Albanian energy firm KESH, as well as Eni positioned as the preferred buyer. This agreement, sealed during the Abu Dhabi Sustainability Week 2025, delineates principal collaboration areas among the UAE, Albania, and Italy, emphasizing renewable energy and energy infrastructure development. The overarching goal is to boost energy security, support sustainable development, and accelerate transformative efforts within the Mediterranean energy sector.
Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, articulated the significance of the agreement, stating, "The agreement embodies the visions of the three countries on enhancing international cooperation on renewable energy and aligns with the leadership’s guidance to strengthen energy security and supply." This concerted effort resonates with the UAE's ambition to triple global renewable energy production by the year 2030.
Jassim Hussein Thabet, CEO of Taqa, highlighted the essence of strategic cooperation by noting, "This agreement highlights the importance of strategic cooperation to promote sustainable energy solutions." He also underlined the foundation laid by strong networks, which guarantees efficient and reliable integration of renewable energy sources across borders.
Meanwhile, Masdar's CEO, Mohamed Jameel Al Ramahi, emphasized the agreement as enhancing their Mediterranean activities, stating, "The agreement will strengthen Masdar’s presence and activities in this region." He underscored their commitment to supporting sustainable development and ensuring reliable clean energy supply at feasible prices.
The CEO of Eni, Claudio Descalzi, remarked on the pivotal role of cross-border energy projects, asserting, "The cooperation on cross-border energy projects plays a significant role in enhancing energy security." This could pave the way for increased dependence on more sustainable energy carriers, as collaboration among key industry players fosters development and efficiency.
The UAE has made remarkable strides in its renewable energy endeavors, boasting a 150% increase in the total production capacity of its project portfolio over the last two years alone. The increase has seen its output soar from 20 gigawatts (GW) at the end of 2022 to 51 GW by the close of 2024. Part of this momentum stems from Masdar’s acquisition of a controlling stake in Terna Energy, Greece's leading renewable energy developer, which solidifies its standing in Southwestern Europe.
Looking forward, Masdar has set ambitious targets to ramp up its total project portfolio capacity to 100 GW by the year 2030. This ambitious endeavor reflects the UAE’s dedication to implementing sustainable energy solutions on both regional and global scales.
Overall, this strategic agreement not only enhances energy collaboration among the three nations but also stands as a testimony to the UAE's enduring commitment to renewable energy initiatives. It embodies the spirit of cooperation and innovation required to tackle climate change challenges and secure energy resources for future generations.