Kazakh parliament ratifies ‘green’ energy transmission deal with Azerbaijan, UzbekistanThe Senate, the upper chamber of Kazakhstan’s parliament, adopted on Thursday a law ratifying a strategic partnership agreement with Azerbaijan and Uzbekistan on the production and transmission of green energy.The bill had earlier been passed by the lower house, the Majilis, and will now be sent to the president for signature.The agreement was signed on November 13, 2024 in Baku.Energy Minister Yerlan Akkenzhenov said earlier the deal was aimed at unlocking the three countries’ renewable energy potential and developing trade in clean electricity, including green hydrogen and ammonia, with a view to exporting to European markets.“The project envisages the transmission of green electricity via a submarine cable laid along the Caspian Sea bed from Kazakhstan and Uzbekistan to Azerbaijan, enabling further exports to Europe through a similar Black Sea route,” Akkenzhenov said.A key component of the project is the construction of a high-voltage direct current (HVDC) subsea cable across the Caspian.Italian consulting firm CESI was selected to prepare the project’s feasibility study, which will define its financial model and key technical parameters.The feasibility study, estimated at around 1 million euros, will be financed through grants from the Asian Development Bank and the Asian Infrastructure Investment Bank.“The two banks have confirmed their readiness to provide grant financing totaling $2 million, although only $1 million is required at the initial stage,” the minister said.Ratification of the agreement is expected to bolster energy security, diversify export routes and support sustainable economic growth through increased exports of low-carbon energy. (ICE ALMATY)

Fonte notizia: INTERFAX