JV for export of green energy from Central Asia to Europe via Azerbaijan to be located in Baku

Azerbaijan, Kazakhstan and Uzbekistan have agreed to establish a joint venture for a project to export green energy from Central Asian countries to Europe with headquarters in Baku, Azerbaijani Deputy Energy Minister Orkhan Zeynalov said at the first meeting of energy ministers of Central Asian countries, Report’s correspondent from Astana informs.

"There is good dynamics and progress in the implementation of the project to connect the energy systems of Azerbaijan, Kazakhstan and Uzbekistan to export green energy from Central Asia to Europe," Zeynalov noted.

He added that the parties have already approved the technical specifications for conducting a preliminary feasibility study of the project.

"A working group of representatives of the three countries decided to establish a joint venture in Baku with the participation of national energy companies of Azerbaijan, Kazakhstan and Uzbekistan. The Italian consulting company CESI was selected to prepare the feasibility study for the project," Zeynalov said.

He added that the text of the draft Agreement on Strategic Partnership in the Development and Transfer of Green Energy between the governments of Azerbaijan, Kazakhstan and Uzbekistan was also agreed upon.

"The signing of the document at a high level will certainly contribute to the successful implementation of the project. This and other export corridors passing through Azerbaijan open up broad prospects for the transfer of green energy from Central Asian countries to Europe. Access to these corridors can ensure the diversification of markets for the export of electricity resources from Central Asian countries," he noted.

Kulpash Konyrova