Azerbaijan's President Ilham Aliyev has approved an agreement between Azerbaijan, Kazakhstan and Uzbekistan on strategic partnership in the development and transmission of green energy.
The agreement was signed by leaders of the three countries on November 13, 2024, initiating a Caspian Sea electricity transmission cable project. To ensure the efficient implementation of the project, the joint venture "Green Corridor Alliance" was established, with its headquarters in Baku.
The proposed cable will link the energy systems of the three countries, promoting energy security, sustainable and economic growth in the region.
It also aims to establish a "green corridor" for the transmission of renewable energy from the Caspian region to Europe via another high-voltage submarine cable -the Black Sea Cable - connecting the South Caucasus region with the European Union.
The two power transmission cables are part of a broader strategy to connect the Caucasus region with continental Europe.
The European Bank for Reconstruction and Development (EBRD) is expected to play a crucial role in this initiative, providing policy guidance and investments in renewable energy.
The project’s initial budget exceeds $2 billion, and preliminary timelines suggest commissioning by 2029, said Aida Sitdikova, the EBRD’s Director of Energy, Eurasia, Middle East and Africa, Sustainable Infrastructure Group, said in an interview with The Astana Times.
The two projects could create a transformative green energy corridor, harnessing Central Asia’s abundant wind and solar resources for export to Europe—diversifying energy supplies and supporting the continent’s decarbonization efforts, she said underlining that economic feasibility remains critical for the project’s success.
"Renewable energy from Kazakhstan, Uzbekistan, Azerbaijan, and Georgia must be offered at competitive prices for European consumers. Europe has alternative sources, such as North Africa and the Middle East, so the cost-competitiveness of both generation and transmission will be the key determining factor," EBRD expert noted.
Iran and the United States remain at loggerheads over efforts to agree a permanent end to the war in the Gulf, according to a senior Iranian source wh...
Central Asia’s economy has surpassed $543 billion, driven by Kazakhstan’s economic weight, strong exports and foreign investment, while growing tr...
The United Nations refugee agency is planning a settlement and carpet-weaving workshop for Afghan returnees in Kabul as the country grapples with larg...
Iran and the United States remain at loggerheads over efforts to agree a permanent end to the war in the Gulf, according to a senior Iranian source who said there had been no progress in talks to revive the interim deal agreed in June and define a timeframe to implement it.
U.S. President Donald Trump has called for Iran to pay compensation for decades of deaths and damage, adding a new demand to peace talks as Tehran seeks compensation and sanctions relief before reopening the Strait of Hormuz.
Disruption in the Strait of Hormuz has increased the strategic importance of Bab al-Mandab, raising fears that instability in both waterways could trigger a wider global energy and trade crisis.
A criminal court in Damascus has sentenced former Syrian President Bashar al-Assad to death in absentia for premeditated murder, torture, arbitrary detention and crimes against humanity, according to Syria’s state news agency SANA.
Millions of people across Spain and Iceland are preparing on Wednesday to witness a rare total solar eclipse, when the moon will pass directly between Earth and the Sun, briefly turning daylight into darkness along a narrow path.
Rhossi, a rare Kemp’s ridley sea turtle that washed up near death on a Welsh beach in 2023, has returned to Texas after more than two years of rehabilitation in the UK.
Glacier coverage in Kyrgyzstan’s Issyk-Kul Basin has shrunk by 33.7 per cent over the past 70–90 years, according to an updated glacier inventory by Kyrgyzhydromet. The agency says the pace of glacier retreat has accelerated sharply in recent years.
Extreme heat and historically low river levels are forcing nuclear power plants across Southeast Europe to reduce production, increasing pressure on already stretched electricity supplies and prompting governments to call for lower consumption.
Flash floods in Gansu Province in China's northwest last week killed 25 people and injured 23 more, the official Xinhua news agency reported on Sunday, raising earlier death tolls.
Three firefighters have died as wildfires continue to burn across Greece, with Crete facing a second day of intense blazes driven by strong winds. The fires come as Europe battles destructive wildfires fuelled by extreme heat and drought.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment