Azerbaijan, Kazakhstan and Uzbekistan have reached an agreement on concept formation and the following creation of a joint venture to export green energy to Europe, the press service of the Kazakh energy ministry said in a statement.

"A respective agreement was reached at a meeting of energy and economy ministers of Azerbaijan, Uzbekistan and Kazakhstan in Baku focused on discussing the prospects of electricity exports from Central Asian countries to Europe through the territory of Azerbaijan. Following the meeting heads of ministries signed a joint communique, in which they noted the potential of countries in the area of renewable energy and their readiness to join the project on export of electricity received from alternative sources to Europe," the statement reads.

The parties to talks reached an agreement, among other things, on setting up a joint working group for concept formation on cooperation in the area of energy exchange with the focus on renewable energy sources, as well as in the sector of development and export of green hydrogen, green ammonia and the creation of related infrastructure.

"On the basis of developed and approved terms of reference a tender on drafting preliminary feasibility study will be announced. The participants also agreed to explore the prospects of setting up a joint venture to implement the project," the Kazakh energy ministry added. The next meeting at the level of economy and energy ministers of the three countries will be held in the Uzbek capital.