Azerbaijan, Kazakhstan, and Uzbekistan plan to establish green energy corridor

The Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and the Ministries of Energy of Azerbaijan, Kazakhstan, and Uzbekistan have signed a Memorandum of Understanding (MoU) to jointly prepare a feasibility study for the Caspian Green Energy Corridor Project.

This agreement is intended to strengthen regional energy cooperation and create conditions for the cross-border trade of renewable electricity among the three countries.

The project is part of a regional initiative by the ADB under the Central Asia Regional Economic Cooperation (CAREC) Program. It aims to develop the institutional and legal framework necessary for cross-border energy trade, with a special focus on creating a unified energy system and infrastructure to enable the export of green electricity to Europe via the Black Sea.

Yevgeny Zhukov, ADB’s Director General for Central and West Asia, described the signing of the memorandum as a “defining moment” in the cooperation between the countries and international financial institutions.

Prepared by: Дониёр Тухсинов

#Kazakhstan #electricity #ADB #Azerbaijan #energy #AIIB