ABU DHABI (Reuters) - Italy, Albania and the United Arab Emirates signed on Wednesday a deal worth at least 1 billion euros ($1 billion) to build a subsea interconnection for renewable energy across the Adriatic Sea.

ROME -- Italy, Albania and the United Arab Emirates signed a three-way clean energy cooperation deal Wednesday that calls for the Gulf country’s expertise to be put to use in Albania to produce solar, wind and other renewable energy, some of which would then be transferred to Italy via an underwater cable.

Albania, Italy and the United Arab Emirates (UAE) signed an agreement on January 15 on a project valued at around €1bn to build a subsea interconnection to facilitate the transfer of renewable energy across the Adriatic Sea.