Azerbaijan plans to start work on a feasibility study for a green energy corridor connecting Central Asia to the European Union before the end of this year, according to Energy Minister Parviz Shahbazov, cited by Kommersant.
To advance the initiative, a new company named Green Corridor Union has been established. A consultant will be selected next month, with support for the project coming from the Asian Development Bank and the Asian Infrastructure Investment Bank.
The project aims to integrate the energy systems of Azerbaijan, Uzbekistan and Kazakhstan, creating the infrastructure needed to export green electricity to European markets. An agreement on energy supplies was signed in autumn last year.
Electricity exports to the EU are expected to be delivered via an undersea cable laid along the Caspian Sea. According to Uzbekistan’s National Statistics Agency, the country exported $107.2 mln worth of electricity in the first eight months of this year, marking an annual growth rate of 52.2%.
