$8.55m for geothermal exploration in Armenia

Posted at June 12, 2015 » By : » Categories : News » Comments Off on $8.55m for geothermal exploration in Armenia

$8.55m for geothermal exploration in Armenia

Yerevan, capital of Armenia. Image: ThinkstockYerevan, capital of Armenia. Image: Thinkstock

Armenia is receiving $8.5m (£5.3m) to explore for geothermal resources in the country.

The World Bank’s ‘Geothermal Exploratory Drilling Project’ aims to find geothermal resources for power generation at the Karkar field.

It plans to build a geothermal plant if the availability of resources are confirmed and helping reduce greenhouse gas emissions.

The facility would have a capacity of 28MW and would cost up to $100 million (£63m).

Arthur Kochnakyan, World Bank Task Team Leader of the Project said: “If adequate geothermal resources are confirmed, then future construction of a geothermal power plant would help the government to meet the forecasted electricity demand and improve the energy security and independence of the country.

“Low-cost electricity from a potential geothermal plant can help keep the electricity affordable for the poor.”

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