Breaking news

UAE, Italy, And Albania Forge $1B Deal For Subsea Renewable Energy Link Across The Adriatic

by THEFUTURE.TEAM

January 20, 2025

A landmark agreement worth $1 billion has been signed between the UAE, Italy, and Albania to construct a subsea interconnection that will facilitate the transfer of renewable energy across the Adriatic Sea.

The Clean Energy Agreement

The deal, which was signed by COP28 President Sultan Al Jaber, Italy’s Environment Minister Gilberto Pichetto Fratin, and Albanian Deputy Prime Minister Belinda Balluku, was announced during Abu Dhabi Sustainability Week. It represents a strategic collaboration aimed at advancing cooperation in renewable energy and energy infrastructure across the Mediterranean.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

The agreement outlines significant projects, including large-scale renewable energy initiatives in Albania, focusing on solar photovoltaics, wind, and hybrid systems with potential for battery storage. The clean energy produced will be transmitted to Italy, marking a significant milestone in energy collaboration. The deal will also include the creation of a cross-border electricity interconnection linking Albania and Italy.

Leveraging Resources For Sustainable Development

Al Jaber highlighted that the deal will combine UAE’s expertise in renewable energy, Albania’s rich natural resources, and Italy’s advanced energy market to facilitate the development and sharing of renewable energy across the region.

The signing ceremony took place in the presence of UAE President Mohamed bin Zayed Al Nahyan, Italy’s Prime Minister Giorgia Meloni, and Albanian Prime Minister Edi Rama. This partnership aims to enhance energy security, foster sustainable development, and accelerate the transition to clean energy in the Mediterranean region.

A Step Toward Energy Cooperation In The EU

This agreement strengthens Italy’s collaboration with Balkan nations, aligning with EU energy goals. According to Balluku, Albania’s abundant natural resources are expected to not only contribute to the green energy transition but also create long-term economic opportunities and job growth.

The deal follows the establishment of a joint venture (JV) between Masdar and Albania Power Corporation last November at COP29, focused on the development of renewable energy projects in Albania. These projects will feature solar, wind, and hybrid energy solutions with integrated battery storage.

Further Strategic Partnerships And Investments

In related news, last December, Emarat Petroleum and Lootah Biofuels, both UAE-based companies, signed a Memorandum of Understanding (MoU) aimed at reducing greenhouse gas emissions and advancing the UAE’s National Biofuels Policy. The partnership focuses on expanding the collection network for used cooking oils to be processed into biodiesel, with Emarat’s retail stations serving as collection points.

Meanwhile, Masdar announced plans for a $6 billion project to build a solar and battery energy facility capable of generating 1 gigawatt (GW) of clean energy. This project, in collaboration with the Emirates Water and Electricity Company, will feature 5 GW of solar capacity and 19 GWh of storage, ensuring a steady supply of 1 GW of electricity.

This $1 billion subsea renewable energy deal marks a significant step forward in the global transition to clean energy, reinforcing cooperation between the UAE, Italy, and Albania in addressing climate challenges and driving sustainable economic growth.

The Future Forbes Realty Global Properties

FinTech’s Dominance In MENA: Three Strategic Drivers Behind Unyielding VC Success

by THEFUTURE.TEAM

September 11, 2025

Despite facing tightening global liquidity and macroeconomic headwinds, the FinTech sector continues to assert its leadership in the MENA region. In the first half of 2025, FinTech emerged as the most resilient and appealing arena for venture capital investments, proving its worth as a catalyst for financial innovation and inclusion.

Addressing Structural Financial Gaps

In many parts of MENA, a significant proportion of the population remains underbanked and underserved by traditional financial institutions. FinTech companies are uniquely positioned to address these persistent challenges by bridging critical access gaps and driving financial inclusion. With the proliferation of payment apps, digital wallets, and micro-lending platforms, investors have witnessed firsthand how these solutions pave the way for scalable growth and eventual exits. Early-stage momentum in the region is underscored by a doubling of pre-seed deals year-over-year, reinforcing the sector’s capacity for rapid innovation and sustainable expansion.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Highly Scalable and Replicable Business Models

One of the key factors behind FinTech’s dominance is the inherent scalability of its business models. Once the necessary infrastructure and regulatory approvals are in place, these models have demonstrated robust performance across borders. The first half of 2025 saw a marked acceleration in deal activity, with payment solutions leading the charge with 28 deals in MENA—a significant increase over the previous year. Lending platforms, in particular, experienced a meteoric 500% year-over-year increase in funding, emerging as the fastest-growing subindustry. Such replicability makes FinTech an attractive proposition for investors seeking high-growth opportunities in diverse markets.

Supportive Regulatory And Government Backing

The strategic support offered by key government initiatives in the UAE and Saudi Arabia has been instrumental in propelling the FinTech sector forward. Progressive frameworks, such as the UAE’s open finance and digital asset directives, coupled with Saudi Arabia’s live-testing sandboxes, have materially lowered entry barriers for startups. These measures not only foster innovation but also streamline the path to commercialization. Consequently, the combined efforts of these regulatory bodies have enabled the UAE and Saudi Arabia to account for 86% of MENA’s total FinTech funding in H1 2025.

The resilience of FinTech in MENA is not merely a reflection of contemporary market trends—it signals a fundamental shift in the region’s economic fabric. With an unwavering commitment to addressing real financial challenges, scalable and replicable business practices, and robust regulatory support, FinTech is setting the benchmark for sustainable innovation. As capital markets become increasingly discerning, this sector stands out as a beacon of long-term growth and transformative impact.