Caspian Green Energy Corridor: AIIB mobilises $1.1 million to prepare a project with a ~400 km subsea cable

The Asian Infrastructure Investment Bank (AIIB) and Azerbaijan have signed two grant agreements totalling $1.1 million to prepare the Caspian Green Energy Corridor and the infrastructure needed for large-scale offshore wind in the Caspian Sea. The grants are financed through the MCDF Finance Facility.

$1 million will fund the first phase of a feasibility study for the corridor, which includes a proposed subsea power cable of about 400 km between Azerbaijan and Kazakhstan; Uzbekistan is expected to connect through onshore transmission networks. The study will assess technical, economic, financial, environmental and social aspects. The Asian Development Bank will provide an additional $1 million in technical assistance, bringing preparation funding for the study to $2 million. A further $100,000 will fund concept development for coastal infrastructure for offshore wind farms in Azerbaijan: ports, specialised vessels, substations and grid connections.

The grants fund the feasibility stage, not construction. If the project moves to implementation, it will require deliveries of cable, substation equipment and wind turbine components along the China – Kazakhstan – Caspian – Azerbaijan corridors.

Source: Daryo, 10 October 2026.