President Shavkat Mirziyoyev has approved the Agreement on Strategic Partnership in the Development and Transfer of “Green” Energy, according to a resolution issued on March 14 (PP-101). The Ministry of Justice reported the decision, highlighting Uzbekistan’s commitment to expanding renewable energy exports.

The Ministry of Energy has been designated as the lead agency responsible for implementing the agreement. The Cabinet of Ministers, along with relevant ministries and departments, will oversee the execution of the agreement’s provisions once it comes into force.

The international agreement, signed on November 13, 2024, during the UN Climate Change Conference (COP29) in Baku, involves Uzbekistan, Kazakhstan, and Azerbaijan. The initiative aims to create tens of thousands of jobs, strengthen energy infrastructure, foster technological collaboration, and enhance regional economic ties.

The project envisions the development of a deep-sea power transmission cable along the Caspian Sea, facilitating the export of renewable electricity to Europe. In August 2024, the participating countries agreed to establish a joint venture based in Baku to oversee the project’s implementation.

Uzbekistan’s Deputy Minister of Energy, Umid Mamadaminov, revealed that by 2030, the country could export up to 10-15bn kWh of electricity to Europe. He noted that the Italian firm CESI has been contracted to conduct the project’s feasibility study, expected to be completed by late 2025. The initiative involves constructing a 2,500 km high-voltage direct current (HVDC) transmission line, estimated to cost over $2bn.

The planned energy corridor will extend from Uzbekistan and Kazakhstan through Azerbaijan and Georgia, crossing the Black Sea to Romania. The electricity pricing for European markets is expected to be at least 4-5 cents per kilowatt-hour.

To support the project, new renewable energy generation facilities will be developed separately from Uzbekistan’s main power grid to prevent disruptions to the domestic energy supply.