The Asian Development Bank (ADB) is awaiting the completion of a feasibility study for the Trans-Caspian Green Energy Corridor project to determine its potential cost under the Pan-Asia Power Grid Initiative (PAGI), ADB Director for Energy Keiju Mitsuhashi said in response to the Report correspondent's question at a press conference on the PAGI initiative during the bank's 59th Annual Meeting of the Board of Governors.
"The project is in the feasibility study stage, so we need to await its results to assess potential costs," he noted.
On April 4, 2025, Azerbaijan, Kazakhstan, and Uzbekistan, with the support of ADB and the Asian Infrastructure Investment Bank (AIIB), agreed to launch the first phase of the Trans-Caspian Green Energy Corridor initiative. The parties signed an agreement to jointly prepare a feasibility study for a project that would connect the three countries' power systems and create a route for exporting renewable energy to Europe.