GLOBAL ENVIRONMENT FACILITY TO GRANT $1,5 MLN TO ARMENIA TO STUDY GEOTHERMAL ENERGY POTENTIAL

ArmInfo
2009-02-25 15:00:00

ArmInfo. On February 24, the Board of Directors of the World Bank
(WB) approved $1,5 mln Global Environment Facility (GEF) grant to
Armenia’s Geothermal Project, which is part of the Regional Energy
Development Programme (GeoFund), Director of WB Armenia Office
Aristomene Varoudakis said at a press- conference on Wednesday.

As he said, GEF funds will be directed to development of geothermal
energy in Armenia for diversification in energy use. According
to him, seismic investigations and geological field works will
be carried out in Sjunik and Gegharkunik regions of Armenia for
revelation of the industrial potential of geothermal energy. "We
hope that successful results of surveys will allow to attract private
investments to this sphere", A. Varoudakis said. To recall, the first
surveys of Armenia’s subsurface resources concerning availability of
thermal energy were carried out even in 1960s of 20th century, and
goal-oriented exploration works started in 1978. The main surveys were
conducted in Hankavan- Zangezur regional belt where young phenomena
of volcanic activity develop. Tsukh- Karkar group of volcanoes are
the most prosperous – they cover "Jermakhpyur" thermal field of at
the height of 2800-3000 m.