TIRANA, Nov 12  /ATA/  On the margins of COP29 in Baku, Azerbaijan, a Memorandum of Understanding was signed between the Albanian Power Corporation (KESH) and Masdar, the UAE giant, to form a joint venture that will invest in Albania. 

Prime Minister Edi Rama shared images on social media from the signing of the agreement, emphasizing that this company will invest in Albania and the region. 

Deputy Prime Minister and Minister of Infrastructure and Energy, Belinda Balluku, described this agreement as one of the most important in the energy sector, with a broad impact in the region. 

In a media statement, Balluku said, “During the COP29 in Baku, in addition to all the panels where we have the great privilege of promoting an Albania that produces 100% renewable energy, today we have signed one of the most important MoUs with the giant Masdar.” 

"This Emirati company has been operating in the Balkans for some time, but now it has established a significant partnership with the Albanian Power Corporation (KESH), creating a joint venture that will invest throughout the entire Western Balkans region, but primarily in Albania," said Balluku. 

A representative of Masdar stated, "As a global leader in renewable energy, Masdar is proud to have signed this agreement with Albania, particularly with KESH." 

"We have created a joint partnership and are developing renewable energy projects in the country," he emphasized. 

According to him, Masdar is very active in the Balkan region. 

"We are one of the largest renewable energy companies in the world. We are pleased to cooperate with the Albanian government and KESH on this strategic project, which will harness the extraordinary renewable energy resources that Albania possesses. We look forward to working on this project," a representative of Masdar said. 

Minister Balluku concluded her message by saying: "Renewable energy and the green economy are a key priority for Albania." 

/sm/