In the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and Her Excellency Giorgia Meloni, Prime Minister of Italy, Abu Dhabi Future Energy Company PJSC – Masdar has recently signed an agreement with TAQA Transmission, part of TAQA Group, and Eni S.p.A., marking a key milestone in advancing the tripartite strategic partnership framework among the UAE, Italy, and Albania.
The framework agreement, signed by Masdar CEO Mohamed Jameel Al Ramahi, TAQA Group CEO Jasim Husain Thabet, and Eni CEO Claudio Descalzi, aims to drive collaboration on the tripartite initiative, particularly in establishing a framework for securing a long-term power off-take agreement in Italy for renewable energy generated in Albania and transmitted via the cross-border interconnection between Albania and Italy. Masdar, the UAE’s leading renewable energy company, and TAQA Transmission were designated as UAE representatives, while Korporata Elektroenergjitike Shqiptare (KESH) – Albania Power Corporation and OPERATORI I SISTEMIT TE TRANSMETIMIT SHQIPTARE (OST) were named as Albania’s designated entities, with Eni identified as the preferred off-taker.
Signed at Abu Dhabi Sustainability Week 2025, the tripartite strategic partnership framework underscores multilateral cooperation among the UAE, Italy, and Albania in renewable energy and energy infrastructure. The initiative seeks to bolster energy security, drive sustainable development, and accelerate the Mediterranean region’s energy transition.
HE Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, stated that the agreement advances cross-border renewable energy collaboration, leveraging the UAE’s clean energy expertise and Italy’s advanced infrastructure. He emphasized its role in expanding global renewables capacity, aligning with the UAE Consensus, while enhancing energy security, affordability, and sustainable economic growth.
Jasim Husain Thabet, Group CEO and Managing Director of TAQA, emphasized the agreement’s role in advancing sustainable energy and strengthening infrastructure for cross-border renewable integration. He highlighted TAQA’s commitment to low-carbon solutions and supporting Albania’s renewable exports.
Mohamed Jameel Al Ramahi, CEO of Masdar, stated that the agreement strengthens Masdar’s presence in the Mediterranean. He highlighted the collaboration with TAQA and Eni to deploy large-scale renewable solutions, supporting Europe’s energy transition, job creation, and sustainable development.
Claudio Descalzi, CEO of Eni, emphasized the importance of cross-border collaboration in enhancing energy security and sustainability. He highlighted the agreement’s role in leveraging industrial expertise and strong partnerships to advance the energy transition and develop a Mediterranean energy market.
Masdar has significantly increased its renewable energy portfolio in the past two years, increasing overall capacity 150 percent to 51GW by the end of 2024, up from 20GW in 2022. This includes Masdar’s acquisition last year of a majority stake in TERNA ENERGY, the largest developer and investor in renewable energy projects in Greece, strengthening its position in Southwest Europe. Masdar is targeting a portfolio capacity of 100GW by 2030.
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