Green Corridor Alliance Joint Venture was established between Azerbaijan, Kazakhstan and Uzbekistan

In order to implement the Agreement on Strategic Partnership in the field of development and transmission of green energy between the governments of the Republic of Azerbaijan, the Republic of Kazakhstan and the Republic of Uzbekistan, Azerenergy OJSC, Kazakhstan Electricity Grid Operating Company and Uzbekistan`s National Power Grid JS signed the founding agreement to establish the joint venture Green Corridor Alliance in Baku.

At the ceremony, which took place in hybrid format with the participation of Azerbaijani Energy Minister Parviz Shahbazov, Kazakh Energy Minister Almasadam Satkaliev, Uzbek deputy Energy Minister Umid Mamadaminov, the document was signed by the President of Azerenergy OJSC Baba Rzayev, Chairman of the Managrement Board of Kazakhstan Electricity Grid Operating Company Nabi Aitzhanov and Deputy Chairman of the Board of Uzbekistan National Electric Grid Feruz Kurbonov.

Green Corridor Alliance JV will carry out the necessary measures arising from preparing a feasibility study for creating the Central Asia-Azerbaijan green energy corridor for exports to Europe via Azerbaijan. "The company will work on achieving common goals in developing renewable energy projects, sustainable energy systems and international energy corridors in the region".     

The management system of the Joint Venture will be regulated through the General Meeting as the supreme governing body of the company, and the management of activities will be carried out by the General Director. The joint venture will be managed by a CEO, with the position rotating every three years on an equal basis between the parties.

At the signing ceremony, Energy Minister Parviz Shahbazov said that the project will contribute to strengthening the energy security of the region's countries, developing the Middle Corridor and deepening Azerbaijan's integration with Central Asian countries. Kazakh Energy Minister Almasadam Satkaliyev and Uzbekistan's Deputy Energy Minister Umid Mamadaminov also spoke about the importance of the green energy partnership of the three countries and emphasized that this project creates opportunities for the supply of green energy to Europe.

As reported, a strategic partnership agreement on the development and transmission of green energy between the Azerbaijani, Kazakh and Uzbek governments was signed by the leaders of the three countries on November 13, 2024, at the COP29 climate conference.