ADB backs Caspian Green Energy Corridor
ADB partners with regional players to study feasibility of a green energy corridor for renewable trade across Azerbaijan, Kazakhstan, and Uzbekistan.
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Central Asia: The Asian Development Bank (ADB) has signed a memorandum of understanding (MOU) to support the feasibility study of the Caspian Green Energy Corridor Project. This collaboration, involving the Asian Infrastructure Investment Bank and the energy ministries of Azerbaijan, Kazakhstan, and Uzbekistan, aims to promote cross-border electricity trade and strengthen regional energy cooperation.
The Caspian Green Energy Corridor project is designed to create a robust institutional and legal framework for renewable energy transmission between the three countries. It also aligns with the broader goals of the Central Asia Regional Economic Cooperation Program, which includes 11 countries, and aims to enhance green energy trade across the region.
By interconnecting energy systems, the project will facilitate the transmission of renewable energy from the Caspian region to Europe through the Black Sea Cable. The ADB sees the project as vital for supporting sustainable development, energy security, and economic growth in Central Asia. This initiative is part of the bank’s broader commitment to fostering regional cooperation and addressing the growing need for clean energy solutions.
Source: Asian Power
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