Azerbaijan, Kazakhstan, and Uzbekistan Join forces to Create 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 recently come together to collaborate on a significant project aimed at promoting renewable energy. They have signed a Memorandum of Understanding (MoU) to jointly prepare a feasibility study for the Caspian Green Energy Corridor Project.
This agreement marks a milestone in regional energy cooperation and is expected to pave the way for cross-border trade of renewable electricity among the three countries. The project, which is part of a larger initiative under the Central Asia Regional Economic Cooperation (CAREC) Program, seeks to develop an institutional and legal framework for cross-border energy trade. One of the key goals is to establish a unified energy system and infrastructure that will enable the export of green electricity to Europe via the Black Sea.
Yevgeny Zhukov, ADB’s Director General for Central and West Asia, has emphasized the significance of this partnership, referring to the signing of the memorandum as a “defining moment” in the cooperation between the countries and international financial institutions. This collaboration is expected to not only boost the development of renewable energy in the region but also contribute to global efforts towards sustainability and combating climate change.
