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A new interconnector project is in the works: UAE, Italy, and Albania have inked a partnership agreement worth some EUR 1 bn to build a subsea interconnection to import renewable energy across the Adriatic Sea, Reuters reported on Wednesday.
About the project: The project — expected to be completed within three years — aims to enhance existing 430 km power links connecting Italy with Montenegro and other Balkan states and will link the Albanian port of Vlore with Italy’s southern Puglia region, Albanian Prime Minister Edi Rama said.
How is the UAE involved? Italian grid operator Terna and UAE’s Taqa will be involved in the project, Rama added. "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," UAE Minister of Industry and Advanced Technology Sultan Al Jaber said.
A boost for Albania’s renewable energy market: The interconnector will allow Albania to sell locally produced renewable energy, Deputy Prime Minister and Infrastructure and Energy Minister Belinda Balluku said, adding that the country has increased its renewable energy capacity by 500 MW in two years.
Connecting left and right: Italy is also working on the EUR 1 bn Elmed subsea power link with Tunisia, which was greenlit by the country in May. The 600 MW interconnector is set to launch operations by 2028.
IN OTHER RENEWABLES NEWS-
Acwa Power’s recently secured renewables portfolio in China includes USD 312 mn in solar and wind investments, representing an “initial batch” of Acwa’s planned investments that will eventually ramp up to a 1 GW portfolio, according to a statement (pdf) on Tuesday.
Acwa’s first partners: The renewables giant will develop a 132 MW solar photovoltaic (PV) portfolio in Guangdong province in partnership with Sungrow Renewables, and a 200 MW wind energy project with turbine manufacturer Mingyang Smart Energy Group, with a combined investment of USD 312 mn. The timeline for the two projects and the allocation of investments were not disclosed.
