Under the supervision of the Ministry of Energy, Saudi Electricity Company (SEC) has signed a memorandum of understanding (MoU) with several major companies operating in the energy sector, including the Electricity Grid Operating Company in Kazakhstan, National Electricity Grid in Uzbekistan, and AzerEnergy Company in Azerbaijan, at the 29th COP29 of the UNFCCC in Baku, Azerbaijan.
The MoU aims to enhance efficiency and facilitate the integration of RES by studying regional interconnection projects, including the ’Azerbaijan-Kazakhstan-Uzbekistan Green Energy Corridor’, across the infrastructure spanning the Caspian and Black Sea regions. This initiative seeks to improve efficiency and support renewable energy integration between the participating countries through this corridor. The MoU also paves the way for studying joint investment opportunities between the signatory parties, which will contribute to supporting other regional interconnection projects. The cooperation focuses on developing innovative solutions for the production of green electricity, in addition to exploring additional areas of cooperation that are mutually beneficial to all parties.