ADB, AIIB, and Central Asian States Advance Caspian Green Energy Corridor Project

The Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and the energy ministries of Uzbekistan, Kazakhstan, and Azerbaijan signed a memorandum of understanding on April 5 to support the feasibility study for the Caspian Green Energy Corridor project, Orda reports, citing the ADB press service.

According to ADB, the memorandum aims to help create a reliable institutional and legal framework to enable cross-border electricity trade among the three countries.

ADB Director General for Central and West Asia, Evgeny Zhukov, emphasized the project's importance, stating that “the Caspian Green Energy Corridor initiative is a strategic priority for the three countries, as well as for ADB, as it directly contributes to our core mission of promoting cross-border cooperation on clean energy infrastructure while addressing multiple regional challenges.”

The project involves interconnecting national energy systems and creating a corridor for the transmission and trade of renewable energy. It also includes plans for the integrated transmission of green electricity from the Caspian region to Europe via the Black Sea cable.

Uzbekistan, Kazakhstan, and Azerbaijan signed a memorandum and protocol on this initiative last November.