Source: Trend International Information Agency
The Asian Development Bank (ADB) considers the initiative to create a green energy corridor between the countries of Central Asia and Azerbaijan very promising and welcomes it.
As the head of the ADB office in Azerbaijan, Candice McDeigan, exclusively told Trend, the ADB is at the initial stage of discussions regarding the prospects for financing this green energy export corridor, Day.Az reports.
“Azerbaijan has memorandums of understanding on the creation of a “green” corridor “Central Asia-Azerbaijan”. This corridor is a large, very promising and interesting initiative. It will unite several countries, there will be several companies participating in the project. Now we need to take several steps, and in particular, to prepare a feasibility study. We expect this and are studying how we can support the initiative to create a green energy corridor,” McDeigan noted.
Earlier, in a conversation with Trend, Deputy Minister of Energy Orkhan Zeynalov said that the Asian Development Bank (ADB) could be one of Azerbaijan’s main partners in creating a segment of the “green” energy corridor “Central Asia-Azerbaijan”, and active negotiations are underway.
The participants in the initiative are Uzbekistan and Kazakhstan, with which a joint venture will be created in Baku in the near future to implement it.
Zeynalov told Trend that an internationally recognized company has already been selected, which will prepare a feasibility study, after which there will be clarity regarding the amount of funds required for the implementation of this “green” energy corridor.
It should be noted that ADB actively promotes the development of the energy sector of Azerbaijan, and in particular provided support for the creation of a solar photovoltaic station on Lake Boyuk Shor.
The total portfolio of ADB projects in Azerbaijan exceeded $5 billion, cooperation has been carried out since 1999.