Joint venture for green energy export from Central Asia to Europe to be established in Baku

A joint venture to facilitate the export of green energy from Central Asia to Europe will be established in Baku, according to Orkhan Zeynalov, Deputy Minister of Energy of Azerbaijan, Azernews reports citing Kazakh media.

This announcement was made during the inaugural meeting of energy ministers from Central Asian countries in Kazakhstan. Zeynalov confirmed that a technical assignment for a preliminary feasibility study, conducted in collaboration with the Italian consulting firm CESI, has been approved.

"The working group has reached an agreement to form a joint venture in Baku. Azerbaijan anticipates that this export corridor will diversify the electricity markets of Central Asian nations. These initiatives are expected to enhance energy security, advance the development of the Middle Corridor, and strengthen integration between Azerbaijan and Central Asian countries," Zeynalov stated.

It is noteworthy that on December 17, 2022, Azerbaijan, Georgia, Romania, and Hungary signed a strategic partnership agreement to construct an energy bridge from the Caucasus to Europe. This agreement includes the development of a Black Sea Energy submarine cable with a capacity of 1,000 MW, spanning 1,195 kilometers. The cable will transport green electricity from Azerbaijan through Georgia and the Black Sea to Romania, with further distribution to Hungary and other European regions. This project aims to supply up to four gigawatts of green energy.