The Asian Development Bank and the Asian Infrastructure Investment Bank have provided technical assistance in the amount of USD 2 million for the preparation of the technical and economic justification for the Trans-Caspian Green Energy Corridor project, said Minister of Energy Parviz Shahbazov at a press conference dedicated to the results of the 11th Southern Gas Corridor Advisory Council Ministerial Meeting and the 3rd Green Energy Advisory Council Ministerial Meeting held in Baku, APA-Economics reports.
The Minister recalled that within the framework of COP29, an agreement was signed on the implementation of the Central Asia-Azerbaijan green energy corridor project through the Caspian Sea.
Shahbazov also mentioned that today, the foundation of the new Azerbaijan-Georgia-Türkiye-Bulgaria energy corridor has been laid, and a memorandum was signed by the energy ministers of these countries.
"Currently, Azerbaijan is implementing a number of green energy initiatives, including the creation of the Caspian Sea-Black Sea-Europe (Hungary) green energy corridor project. I would like to emphasize that the assumptions that these green energy corridor projects could compete with each other are incorrect. Azerbaijan has sufficient resources to implement these projects," the minister stressed.
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