Azerbaijan, Kazakhstan and Uzbekistan signed the Memorandum of Cooperation on the integrated energy system, the press office of the Ministry of Energy of Kazakhstan reported.
It is noted that this step is aimed at concerting efforts to generate and export green energy to Europe through Azerbaijan. The tripartite agreement was signed at the meeting of the ministries of economy and energy of the three countries in the capital of Uzbekistan.
The Memorandum follows up previous energy initiatives undertaken by the three countries.
The drop in the carbon permit prices in the European Union to €100 per tonne in 2023 and subsequent reduction by almost half by February 2024 has been a key driver of increased interest in renewable energy. This happened amidst a rise in green energy generation and a decrease in demand for conventional sources of energy.
