BAKU, April 4 (Xinhua) -- Azerbaijan, Kazakhstan and Uzbekistan signed a memorandum of understanding with the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) on Friday to advance the Caspian Green Energy Corridor, Azerbaijan's Energy Ministry reported.
The agreement was signed during the 11th Ministerial Meeting of the Southern Gas Corridor Advisory Council and the 3rd Green Energy Advisory Council Ministerial Meeting in Baku.
The memorandum outlines cooperation to support the feasibility study for the project, which aims to connect the energy systems of the three countries and facilitate the export of green electricity to Europe. ADB and AIIB's involvement is expected to accelerate the initiative by providing financial and technical expertise.
The Caspian Green Energy Corridor builds on the Strategic Partnership in the Development and Transmission of Green Energy, signed by the three countries at the COP29 climate conference in November 2024.
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