Baku, Astana, Tashkent agree on start of Phase 1 of energy cable across CaspianAzerbaijan, Kazakhstan and Uzbekistan, with the support of two leading Asian banks, have agreed to start the first phase of the Caspian Green Energy Corridor project, Azerbaijan's Energy Ministry reported in a press release.The energy ministries of the three countries, the Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB) signed a memorandum to this effect on Friday as part of the Southern Gas Corridor Advisory Council 11th Ministerial Meeting and Green Energy Advisory Council 3rd Ministerial Meeting in Baku, the ministry said.The document calls for cooperation on the preparation of the feasibility study for the project, which is aimed at unifying the energy systems of the three countries and creating a route to supply renewable energy to Europe.Azerbaijani Energy Minister Parviz Shahbazov said this is a "strategic and historically important project," and the ADB and AIIB joining it will make it possible to accelerate the initial phase of its implementation.The minister told reporters that the two banks have allocated $2 million in technical assistance for the feasibility study.The energy ministers of Kazakhstan and Uzbekistan also said the green corridor is important for sustainable development and exports of clean electricity from Central Asia.The initiative is a continuation of the agreement on strategic partnership in the development and transmission of green energy that the three countries' leaders signed at the COP29 climate conference in November 2024.The energy cable across the Caspian Sea will be part of a project to build a cable from Central Asia to transmit green energy across the Black and Caspian seas to Europe.Azerenergy, Kazakhstan Electricity Grid Operating Company and the National Electric Grid of Uzbekistan signed the founding agreement to set up the Green Corridor Alliance joint venture in Baku on December 27, 2024. The joint venture will handle issues related to the preparation of the feasibility study for the Central Asia - Azerbaijan energy corridor to export electricity to Europe. (ICE ALMATY)

Fonte notizia: INTERFAX