During the Tashkent International Investment Forum, the energy ministers of Kazakhstan, Azerbaijan and Uzbekistan signed a memorandum of cooperation on energy system interconnection on the 1st.
According to sources from the Ministry of Energy, the signing of this memorandum aims to clarify the basic conditions for cooperation in energy system interconnection projects among the three countries.
According to the memorandum, the three countries plan to realize the most economical and technical solution to transmit green energy between Azerbaijan, Kazakhstan and Uzbekistan by laying high-voltage cables on the bottom of the Caspian Sea and other countries’ territories.
Energy Minister Almas Adam Satkhaliyev said that a preliminary draft of the technical task of laying submarine cables has been completed. He noted that the draft applies to business models for developing international transmission corridors (including financing, revenue streams and ownership) and selling green energy to EU countries. Based on this, the energy ministries of the three countries formulated a memorandum of cooperation on energy system interconnection between Azerbaijan, Kazakhstan and Uzbekistan.
Satkhaliyev said that the three countries have discussed and agreed on the basic implementation plan of the project, and the Ministry of Energy of Kazakhstan is fully prepared and willing to carry out further comprehensive cooperation.
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