The Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB) will jointly support the preparation of the feasibility study for the “Caspian Green Energy Corridor” project.
Sea-news.az reports total funding for the study will amount to $2 million. AIIB and the Government of Azerbaijan signed grant agreements totaling $1.1 million, mobilized through the Multilateral Cooperation Center for Development Finance (MCDF) finance facility with AIIB’s support. Of this amount, $1 million is allocated for Phase 1 of the feasibility study, while ADB will contribute an additional $1 million in technical assistance.
Strategic Project Highlights:
- Infrastructure Scope: The project entails laying a 400-kilometer subsea power cable along the seabed of the Caspian Sea between Azerbaijan and Kazakhstan. Uzbekistan will connect to the corridor via onshore electricity transmission networks.
- Study Objectives: The assessment will evaluate the project’s technical, economic, financial, environmental, and social viability, alongside analyzing high-voltage transmission routing options and cross-border renewable power trade potential.
