ADB, AIIB, and Central Asian States Advance Caspian Green Energy Corridor Project
Photo: ADB Press Service
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.
Latest news
- Kazakhstan’s Credit Rating Upgraded for First Time in a Decade
- While Thousands Lost Power, KEGOC Executives Received Nearly Half a Billion Tenge
- Changi Airport Group May Help Build Astana’s New Airport
- US Again Extends Deadline for Lukoil to Sell Its Assets in Kazakhstan
- Kazakhstan Extradites Business Manager From Russia in 290 Million Tenge Tax Case
- Released Amur Tiger Successfully Hunts in Kazakhstan’s Wild
- Kazakhstan Moves to Develop Critical Minerals as Global Competition Intensifies
- Another Performance by Kazakh Stand-Up Comedian Called Off
- Uzbekistan Begins Preparations for Second Nuclear Power Plant
- Backpack Links Glacier Remains to Man Missing for 19 Years
- 650-Hectare Wildfire Contained in Karaganda Region
- Unusual Wildlife Encounter Captured in Altyn-Emel
- Retired Border Service Dog Sold for $2 at Kazakhstan Auction
- Will Kazakhstan Have Enough Coal This Winter?
- Belarusian Hikers Find Body on Glacier Near Almaty
- Kazakhstan Investigates Spending on 242 Million Tenge Educational Game
- Kazakhstan Makes Caspian Oil Companies Pay for Counterterrorism Deployments
- Kazakhstan Faces Shortage of 245,000 School Places
- Waste Dumping Reported Near Yurt Camps at Lake Zaisan
- Kazakh Oil Rerouted to Novorossiysk as Russia Frees Baltic Export Capacity
