Eni and ADQ signed MoU to collaborate on the research and development of critical minerals
During the state visit of the President of the United Arab Emirates, Sheikh Mohamed bin Zayed Al Nahyan, and in the presence of the Italian Prime Minister, Giorgia Meloni, Eni’s Chief Executive Officer, Claudio Descalzi, signed three collaboration agreements with Emirati companies covering the development of data centres, renewable energy capacity transmission through cross border interconnection between Albania and Italy, and critical minerals.
Eni has signed a Letter of Intent with MGX, a leading investment fund focused on AI and Advanced Technology investment, and G42, a globally leading AI-focused group based in Abu Dhabi, to develop state-of-the-art data centres in Italy to store, process, and manage large amounts of data, with a planned IT capacity of up to 1 GW.
In addition, Eni signed an agreement with Abu Dhabi Future Energy Company PJSC - Masdar, the UAE's clean energy leader, and Taqa Transmission, a specialist in electricity transmission, for the establishment of long term power off take arrangements in Italy with Eni as a preferred off-taker of the renewable energy generated in Albania with a capacity of up to 3 GW transmitted through an up to 1 GW cross border subsea interconnection between Albania and Italy. This agreement follows the Tripartite Strategic Partnership Framework signed in Abu Dhabi in January 2025 between the governments of Italy, Albania and the UAE.
Finally, Eni and ADQ, a global sovereign investor with a focus on critical infrastructure and supply chains, signed a Memorandum of Understanding to collaborate on the research and development of critical minerals. The agreement aims to strengthen the security and resilience of the critical minerals supply chain for both Italy and the UAE.
Eni CEO Claudio Descalzi commented “Our partnership with the UAE is a testament to our shared commitment to a sustainable energy future, leveraging innovation and collaboration across key sectors. Together with leading UAE companies we will develop initiatives in areas that are essential in the energy transition, such as data centers powered by blue energy, a model able to respond to AI's growing demand of sustainable computing capacity. This strategic cooperation underscores our dedication to driving technological progress and contributing to the energy security on a global scale."
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