Baku To Host Joint Venture Setup For Green Energy Export From Central Asia To Europe
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, August 6. A joint venture for
the project of green energy export from Central Asia to Europe will
be set up in Baku, Deputy Minister of Energy of Azerbaijan Orkhan
Zeynalov said, Trend reports via Kazakh media.
He made the remark during the first meeting of energy ministers
from Central Asian countries in Kazakhstan today.
According to the deputy minister, a technical assignment for
conducting a preliminary feasibility study of the project in
collaboration with the Italian CESI consulting company has been
approved.
"The working group has already agreed on the establishment of a
joint venture in Baku. Azerbaijan hopes that such an export
corridor will help diversify the electricity markets of Central
Asian countries.
Overall, these efforts will undoubtedly contribute to
strengthening the energy security of our countries, developing the
Middle Corridor, and deepening mutual integration between
Azerbaijan and Central Asian countries," Zeynalov added.
To note, on December 17, 2022, Azerbaijan, Georgia, Romania, and
Hungary inked a strategic partnership agreement, outlining the
construction of an energy bridge from the Caucasus region to
Europe.
Under the agreement, the construction of the Black Sea Energy
submarine electric cable is anticipated, boasting a capacity of
1,000 MW and spanning 1,195 kilometers. This cable is slated to
transport green electricity from Azerbaijan through Georgia and the
Black Sea to Romania, facilitating onward transportation to Hungary
and other parts of Europe. The initiative is expected to enable the
supply of up to four gigawatts of green energy.
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