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.
U.S. special envoys Jared Kushner and Steve Witkoff have held talks with Ukrainian President Volodymyr Zelenskyy in Kyiv on Sunday on efforts to en...
Iran has warned it will retaliate against any future U.S. attacks, saying American energy interests and infrastructure across the Gulf could become...
Baku Climate Action Week (BCAW) 2026 has begun in Azerbaijan’s capital, bringing together government representatives, business leaders, inves...
An eruption of Indonesia’s Mount Anak Krakatau has disrupted air travel, school activities and fishing operations, with hundreds of passengers stranded at Jakarta’s main airport on Sunday.
At least five people were killed and five others injured when an Amazon Prime Air cargo plane overran a runway and crashed while landing at Miami International Airport on Sunday, 6 September, local officials said.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf said on Sunday that the United States must recognise that the “rules of the game” in its war against Iran had changed “before it is too late”, a day after Washington struck several Iranian tankers in the Gulf.
Two Greek military pilots were killed on Saturday when an F-4 Phantom fighter jet crashed during an air show at Tanagra air base, north of Athens, officials said.
U.S. special envoys Jared Kushner and Steve Witkoff have held talks with Ukrainian President Volodymyr Zelenskyy in Kyiv on Sunday on efforts to end Russia’s war in Ukraine.
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.
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.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment