Baku: The preparation of the feasibility study for the “Trans-Caspian Green Energy Corridor” project will commence soon, announced the Minister of Energy Parviz Shahbazov at an event during the “Kazakhstan Energy Week,” APA-Economics reports.
According to Azeri-Press News Agency, the feasibility study for this project will be developed with the backing of the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). Minister Shahbazov highlighted that the ‘Trans-Caspian Green Energy Corridor’ aims to establish a ‘green bridge’ facilitating connections between Europe and Asia via the Caspian Sea. This initiative is set to link the electricity systems of regional countries, enhancing intercontinental energy, digital, and transportation ties for the first time.
Moreover, Shahbazov shared insights regarding other significant projects like the ‘Caspian-Black Sea-Europe,’ ‘Azerbaijan-Trkiye-Europe,’ and ‘Azerbaijan-Georgia-Trkiye-Bulgaria’ green energy corridors. He pointed out that integrating these corridors with the ‘Trans-Caspian Green Energy Corridor’ will enable the substantial renewable energy resources of the region to be exported to the markets in Trkiye and Europe.