Uzbekistan, Kazakhstan, and Azerbaijan are joining forces to create a unified energy grid, paving the way for a future of green energy exports to Europe.
On May 1, Tashkent hosted the second meeting of the Ministers of Energy of Uzbekistan, Azerbaijan and Kazakhstan, during which the parties signed a memorandum of cooperation on the interconnection of the energy systems.
The document, titled “the interconnection of the energy systems of Uzbekistan – Kazakhstan – Azerbaijan “Green Corridor”, outlines plans to connect the energy systems of the three nations using a high-voltage cable laid across the Caspian Sea.
This project holds the potential to transform the region into a significant green energy exporter to Europe. Each country boasts a growing renewable energy sector: Kazakhstan with 2,868.6 MW of installed capacity, Uzbekistan with recent additions totaling 2,400 MW, and Azerbaijan with 1,688 MW.
In Tashkent, the sides discussed the basics of the project, the preparation of a draft interstate agreement and other issues.
During the meeting, the terms of reference for the development of a preliminary feasibility study of the project were approved.
This study will explore the technical and economic feasibility of the project, including potential financing models, revenue streams, and ownership structures for the international transmission corridors. Additionally, the parties will consider attracting international expertise to further refine the project’s details. ///nCa, 2 May 2024