By Alperen Aktas
ISTANBUL (AA) – Azerbaijan, Kazakhstan, and Uzbekistan on Friday signed a cooperation deal with two major regional lenders — the Asian Development Bank (ADB) and the Beijing-based Asian Infrastructure Investment Bank (AIIB) — to begin work on the Caspian Green Energy Corridor, according to Azerbaijan’s Energy Ministry.
The memorandum of understanding was signed in Baku by the energy ministers of the three countries, along with senior officials from ADB and AIIB, during meetings of the Southern Gas Corridor and Green Energy Advisory Councils.
The agreement focuses on launching the first-phase feasibility study of a proposed clean energy corridor connecting Central Asia to Europe through the Caspian Sea.
Azerbaijani Energy Minister Parviz Shahbazov said the project aims to integrate the energy systems of the three countries and added that participation from ADB and AIIB represents a key step forward.
Kazakh Energy Minister Erlan Akkenzhenov said the initiative supports regional energy cooperation, sustainable development, and clean power exports.
Uzbek Energy Minister Jurabek Mirzamakhmudov said the corridor would become a reliable link between Central Asia’s renewable resources and European demand.
ADB official Evgeniy Zhukov described the project as a strategic priority that enhances cross-border cooperation on clean energy infrastructure.
AIIB representative Hong Wei noted that the bank is pleased to support the study, adding that Azerbaijan will play a critical role as a gateway for clean energy from Central Asia to Europe.
The three countries had previously signed a broader agreement on green energy cooperation during the COP29 summit in November 2024.