Baku (TDI): Azerbaijan, Kazakhstan, and Uzbekistan have signed a landmark deal with the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) to advance a regional renewable energy initiative known as the Caspian Green Energy Corridor.
The Memorandum of Understanding (MoU), inked in Baku, outlines plans for a feasibility study to assess the project’s potential.
The primary aim is to establish a robust legal and institutional framework that will facilitate cross-border electricity trade among the three nations, especially from renewable sources.
The Caspian Green Energy Corridor is part of ADB’s broader regional strategy to promote clean energy and enhance multilateral collaboration.
The initiative aims to interconnect the energy systems of Azerbaijan, Kazakhstan, and Uzbekistan, enabling them to share and distribute renewable electricity more efficiently.
Read More: Pakistan, Afghanistan to Receive Electricity from Central Asia
“This deal lays the foundation for deeper collaboration and shows our mutual commitment to building a clean energy future,” said Yevgeniy Zhukov, ADB Director General for Central and West Asia.
A key ambition of the project is to develop a green energy supply route from the Caspian region to Europe via the Black Sea Cable.
Read More: Uzbekistan Leads Central Asia’s Climate Fight
The corridor is likely to improve energy security, reduce carbon emissions, and support economic development across the region.
The initiative is also supported by the Central Asia Regional Economic Cooperation (CAREC) Program, which brings together eleven nations and several development partners to promote regional integration and reduce poverty through economic cooperation.
