ADB: Trans-Caspian energy cable may become part of PAGI megaproject

The Trans-Caspian Green Energy Corridor, being implemented with the support of the governments of Azerbaijan, Kazakhstan, and Uzbekistan, is a potential project under the Pan-Asia Power Grid Initiative (PAGI), Asian Development Bank (ADB) Energy Director Keiju Mitsuhashi said at a press conference on the PAGI during the 59th Annual Meeting of the ADB Board of Governors, Report informs.

"The Asian Development Bank and the Asian Infrastructure Investment Bank are already supporting feasibility studies, infrastructure planning, and financing. ADB has also supported energy sector reforms in Uzbekistan to help accelerate the country's transition to green energy. ADB is also providing comprehensive support to Azerbaijan, Kazakhstan, and Uzbekistan under the One ADB program. So, yes, the energy cable project is being considered as a potential PAGI project," Mitsuhashi stated.

The PAGI envisions the interconnection of national and subregional power grids, which will enable the efficient redistribution of renewable energy between countries.

PAGI plans to mobilize $50 billion by 2035 for the development of cross-border energy infrastructure. This includes the construction of transmission lines, substations, energy storage systems, and grid digitalization. The initiative also covers generation projects, including green energy exports, the creation of regional energy hubs, and hybrid generation and storage facilities.