April 9 ,The Senate or the upper chamber of Kazakhstan's parliament passed a law ratifying a strategic partnership agreement on the production and transmission of green energy between Kazakhstan, Azerbaijan and Uzbekistan on Thursday.
The bill had previously been passed by the lower house, the Majilis, and is thus considered to have been approved by parliament in general. It will now be sent to the president for signature.
The agreement was signed in Baku on November 13, 2024.
Energy Minister Yerlan Akkenzhenov said earlier that the deal was designed to promote the effective use of the three countries' renewable energy potential and develop trade in environmentally friendly electricity, including green hydrogen and ammonia, with a view to exporting to European markets.
"The project involves transmitting green energy sources via an underwater cable running across the Caspian Sea bed from Kazakhstan and Uzbekistan to Azerbaijan, which will also allow this energy to be exported to European countries via a similar Black Sea route," Akkenzhenov said.
Italian consulting firm CESI was selected to prepare the feasibility study for the project, which will define its financial model and key technical parameters.
The feasibility study has an estimated cost of around 1 million euros, funded through grants from the Asian Development Bank and the Asian Infrastructure Investment Bank.
"The two banks have confirmed their willingness to provide grant funding of $2 million, although only $1 million is required at the initial stage," the minister said.
The ratification of the agreement is expected to reinforce energy security, diversify export routes and facilitate the sustainable economic growth of Kazakhstan through exports of low-carbon energy.
