Trans-Caspian energy cable may be integrated into PAGI megaproject – ADB

The Trans-Caspian Green Energy Corridor, implemented with the support of the governments of Azerbaijan, Kazakhstan, and Uzbekistan, is being considered as a potential project under the Pan-Asia Power Grid Initiative (PAGI), Asian Development Bank (ADB) Energy Director Keiju Mitsuhashi said.

Speaking at a press conference on PAGI during the 59th Annual Meeting of the ADB Board of Governors, Mitsuhashi noted that both the Asian Development Bank and the Asian Infrastructure Investment Bank are already involved in supporting feasibility studies, infrastructure planning, and financing efforts, Caliber.Az reports via local media.

"ADB has also supported energy sector reforms in Uzbekistan to help accelerate the country's transition to green energy. ADB is also providing comprehensive support to Azerbaijan, Kazakhstan, and Uzbekistan under the One ADB program. So, yes, the energy cable project is being considered as a potential PAGI project," he stated.

PAGI is designed to enable the interconnection of national and subregional power grids, allowing for the efficient redistribution of renewable energy among participating countries.

The initiative aims to mobilise $50 billion by 2035 for the development of cross-border energy infrastructure, including the construction of transmission lines, substations, energy storage systems, and grid digitalisation.

It also encompasses generation projects, including green energy exports, the development of regional energy hubs, and hybrid generation and storage facilities.

By Jeyhun Aghazada