BAKU, Azerbaijan, August 6. A joint venture for the project of green energy export from Central Asia to Europe will be set up in Baku, Deputy Minister of Energy of Azerbaijan Orkhan Zeynalov said, Trend reports via Kazakh media.
He made the remark during the first meeting of energy ministers from Central Asian countries in Kazakhstan today.
According to the deputy minister, a technical assignment for conducting a preliminary feasibility study of the project in collaboration with the Italian CESI consulting company has been approved.
"The working group has already agreed on the establishment of a joint venture in Baku. Azerbaijan hopes that such an export corridor will help diversify the electricity markets of Central Asian countries.
Overall, these efforts will undoubtedly contribute to strengthening the energy security of our countries, developing the Middle Corridor, and deepening mutual integration between Azerbaijan and Central Asian countries," Zeynalov added.
To note, on December 17, 2022, Azerbaijan, Georgia, Romania, and Hungary inked a strategic partnership agreement, outlining the construction of an energy bridge from the Caucasus region to Europe.
Under the agreement, the construction of the Black Sea Energy submarine electric cable is anticipated, boasting a capacity of 1,000 MW and spanning 1,195 kilometers. This cable is slated to transport green electricity from Azerbaijan through Georgia and the Black Sea to Romania, facilitating onward transportation to Hungary and other parts of Europe. The initiative is expected to enable the supply of up to four gigawatts of green energy.
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