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Azerbaijan’s energy ministry said on October 9 that the government and the Asian Infrastructure Investment Bank signed two grant agreements under the Multilateral Cooperation Center for Development Finance. The awards total $1.1 million and support preparation work for energy initiatives, rather than financing completed generating or transmission assets. The announcement followed an online meeting between Energy Minister Parviz Shahbazov and AIIB and facility representatives.
One grant provides $1 million for development of the Caspian Green Energy Corridor project, which the ministry describes as connecting Azerbaijan, Kazakhstan and Uzbekistan. A separate $100,000 grant supports concept development for coastal infrastructure intended to enable a large offshore wind power plant in Azerbaijan. The ministry characterizes both as early project-development support.
The AIIB official quoted in the release said these were the first two grant agreements between the bank and Azerbaijan for MCDF-supported corridor and offshore-wind projects. The announced amounts are grant support for development studies and a concept, not total project costs, investment commitments, power capacity or construction budgets.
The ministry said the work is intended to lay groundwork for attracting future investment and strategic partners. It did not give study completion dates, final designs, financing for construction or an offshore wind capacity figure. The agreements mark project preparation; they do not establish that the corridor or wind infrastructure is approved for construction.