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 has rejected as “irrelevant” a UN nuclear watchdog resolution referring its nuclear file to the UN Security Council, arguing that ...
Georgia’s busiest sea gateway has reached its capacity limit, adding urgency to plans for a major expansion of Poti port as the country seeks...
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, ...
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
Wildfires have broken out in Türkiye’s Antalya province, forcing hundreds of people to evacuate as strong winds fuelled the flames.
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, explosions were heard across parts of southern Iran according to local media reports.
A TV channel was struck during a live broadcast on Tuesday, Ukrainian President Volodymyr Zelenskyy said, as Russian strikes on Kyiv killed at least three people, the city's Mayor Vitali Klitschko said. Meanwhile, drones hit civilian infrastructure in Russia's southwestern Saratov region.
U.S. Central Command (CENTCOM) said its forces destroyed five Iranian crude oil carriers after the Islamic Revolutionary Guard Corps (IRGC) allegedly launched two ballistic missile attacks against a U.S. Navy warship over the past two days.
August 2026 tied as the hottest month ever recorded globally, pushing average temperatures above the critical 1.5°C threshold as extreme weather swept across several regions, the EU’s Copernicus Climate Change Service said.
Increasingly intense wildfires and heat waves are threatening global efforts to improve air quality and protect public health, the United Nations’ weather agency has warned.
Vast flocks of storks passed through Türkiye and the Bosporus this week as part of their annual autumn migration from European breeding grounds toward Africa and the Middle East.
China's coastal areas and southern regions are preparing for days of intense precipitation, with tens of thousands of people evacuated as Typhoon Narra tracks inland and another storm churns toward the country's eastern seaboard.
A wildfire in Croatia driven by strong winds descended on the tourist town of Omis overnight, engulfing houses, forcing about 1,000 people to evacuate to safety and injuring dozens, fire brigade and health officials said on Friday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment