Masdar, the UAE’s clean energy giant, is setting its sights on Albania for gigawatt-scale renewable energy projects in a deal that could transform the country’s energy landscape. 

Partnering with Albania’s state power utility, Kesh, Masdar has signed a preliminary agreement to develop a series of solar, wind, and hybrid projects, potentially integrated with battery storage. 

The project aims to help Albania become more energy independent, reduce reliance on coal-heavy imports, and boost its renewable energy output for both domestic use and export to neighbouring countries.

Masdar’s chairman, Dr. Sultan Al Jaber, said that the collaboration will leverage the UAE’s expertise in clean energy and Albania’s natural resources to deliver more efficient, lower-emission energy. Albania, which currently depends heavily on hydropower, often turns to neighbouring coal-powered nations for electricity, especially during dry periods. To meet its goal of achieving 54.4% renewable energy by 2030, Albania sees this partnership as a major step.

Albania’s Deputy Prime Minister Belinda Balluku echoed the sentiment, calling the deal a “significant moment” for Albania’s renewable ambitions and for strengthening ties with the UAE. 

The partnership also reflects Masdar’s broader strategy to increase its renewable energy capacity from 20GW to at least 100GW globally by 2030, with the Balkans as a key focus. 

Masdar is aggressively expanding across international markets. In Uzbekistan, it recently signed an agreement to develop a one-gigawatt wind farm, expected to power 300,000 homes and create 1,000 jobs during construction. 

In Europe, the company is also actively acquiring and financing renewable assets: from a major stake in Spanish utility Endesa’s solar assets to the acquisition of Greek renewable company Terna Energy for €3.2bn.