BAKU, Azerbaijan, April 4. Signing ceremony of Memorandum of Understanding between the Ministry of Energy of Azerbaijan, the Ministry of Energy of Kazakhstan, the Ministry of Energy of Uzbekistan and the Asian Development Bank, the Asian Infrastructure Investment Bank was held within Southern Gas Corridor Advisory Council 11th Ministerial Meeting and Green Energy Advisory Council 3rd Ministerial Meeting in Baku, Trend reports via Azerbaijan's Energy Ministry.
The representatives of ADB and AIIB joined the document signed by the Energy Ministers of Azerbaijan, Kazakhstan, and Uzbekistan.
This memorandum envisages the cooperation between Azerbaijan, Kazakhstan, and Uzbekistan in order to support the first stage of the feasibility study of the “Caspian Green Energy Corridor” project.
"The unification of the energy systems of Azerbaijan, Uzbekistan, and Kazakhstan is a strategic and historically important project. Joining ADB and AIIB to our Caspian Green Energy Corridor initiative is one of the important advances in the implementation of the project. Our cooperation will enable us to start feasibility studies of the project soon. Thanks to this regional green energy initiative, Azerbaijan and Central Asia will realize the first trans-Caspian Energy Corridor,” Energy Minister of Azerbaijan Parviz Shahbazov said.
“Joint initiatives such as the Green Corridor project demonstrate our determination to strengthen the region's energy systems, promote green technologies, and ensure sustainable export of green electricity. Together we create a future where energy is not only a resource, but also the foundation of sustainable development and stability," Erlan Akkenzhenov, Minister of Energy of Kazakhstan, stated.
"The Green Energy Corridor to be established between Kazakhstan, Uzbekistan and Azerbaijan is an important example of cooperation that turns the renewable energy potential of Central Asia into a reliable and sustainable bridge connecting Europe. This project reflects our commitment to building a green future, promoting economic growth and ensuring long-term energy security,” Deputy Minister of Energy of Uzbekistan Umid Mamadaminov said.
"Caspian Green Energy Corridor initiative is a strategic priority for three countries, as well as ADB, as it directly advances our core mission of fostering cross-border cooperation on clean energy infrastructure while simultaneously addressing multiple regional challenges. The signing of the Memorandum of Understanding (MoU) is a defining moment in our collaboration and sets the foundation for deeper cooperation between Azerbaijan, Kazakhstan, and Uzbekistan. It reflects our collective commitment to turning this vision into a transformative regional initiative," ADB`s Director General of Central and West Asia Department Eugene Zhukov noted.
“The Asian Infrastructure Investment Bank (AIIB) is delighted to partner with the governments of Azerbaijan, Kazakhstan, Uzbekistan, and the Asian Development Bank in supporting the Feasibility Study of the Caspian Green Energy Corridor project. This project will unlock Central Asia’s vast clean energy potential, with Azerbaijan playing a critical role as the gateway for green energy flows from Central Asia to Europe,” Head of Client Relations, Public Sector Client Department Region II, Asian Infrastructure Investment Bank, Hong Wei added.
Meanwhile, an agreement between the governments of Azerbaijan, the Republic of Kazakhstan, and Uzbekistan on Strategic Partnership in the Development and Transmission of Green Energy was signed by the leaders of the three countries on November 13, 2024 at the COP29 climate conference.
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