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.
Israel and Hamas said they had agreed to a long-awaited ceasefire and hostage deal, the first phase of U.S. President Donald Trump's plan to end a war...
Russia’s central bank has ruled the state violated minority shareholders’ rights in seized assets, signaling rare pushback against nationalisation...
A newly elected German mayor survived multiple stab wounds in a shocking family attack....
From Sunday, all non-EU citizens, including British visitors, will face new biometric checks when entering and exiting the EU under its long-delayed E...
Cristiano Ronaldo has become football’s first billionaire player, according to Bloomberg, which tracks the world’s richest individuals....
President of the Republic of Azerbaijan Ilham Aliyev welcomed a Croatian delegation led by Gordan Jandroković, Speaker of the Croatian Parliament, marking his first official visit to Azerbaijan.
Turkish Foreign Minister Hakan Fidan met on Monday with his Azerbaijani counterpart, Jeyhun Bayramov, the Turkish Foreign Ministry said via the country’s social media platform NSosyal.
Leaders of the Organization of Turkic States (OTS) signed the Gabala Declaration at the 12th Summit of the Council of Heads of State, outlining new priorities for political, economic, and cultural cooperation across the Turkic world.
President Ilham Aliyev welcomed the heads of state and government participating in the 12th Summit of the Council of Heads of State of the Organization of Turkic States, held in Gabala on October 7.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Azerbaijan is stepping up its renewable energy ambitions with plans to develop eight new solar and wind plants by 2027, backed by $2.8 billion in investment and aimed at exceeding its 2030 climate targets ahead of schedule.
On the second day of Baku Climate Action Week (BCAW), attention centred on strengthening international cooperation, accelerating the transition to clean energy, and ensuring a fair and inclusive approach.
Super Typhoon Ragasa lashed Hong Kong with hurricane-force winds and torrential rain on Wednesday.
When Climate Week kicks off in New York City on Sunday (21 September), it will mark the largest event of its kind yet, with organisers reporting a record number of companies participating and more events than ever before.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment