Albania’s energy sector is set for significant advancements as KESH, the country’s energy corporation, partners with the UAE’s Masdar to establish a joint venture focused on energy production. Albanian Prime Minister Edi Rama announced this development following discussions with UAE’s advanced technology minister, Sultan Ahmed Al Jaber, in New York.
The KESH & Masdar joint venture aims to implement several energy projects in Albania and neighboring regions. Additionally, plans are underway for a collaborative effort involving Albania, Italy, and the UAE to develop an underwater electricity connection between Albania and Italy. This project, which has been in discussions since December 2023, is projected to cost around 1 billion euros ($1.11 billion) and a feasibility study is expected to be completed within 2024.
