Climate Investment Fund grant of $9m for geothermal work in Armenia
Vorotan Canyon, Syunik district, Armenia (source: flickr/ Coshipi, creative commons)
Francisco Rojas
25 Jul 2014
Local news state that the Climate Investment Fund has given Armenia a grant of $9 million USD for study and development of geothermal.
According to a local news source, the development of geothermal energy in Armenia is a perspective direction, which can give a substantial solution to the energy security issue in Armenia. This is the only technology, which can provide the guaranteed energy production, as the other sources of energy, including solar, wind, and renewable, have a seasonal character.
In a conversation with “Armenpress”, the Director of Renewable Resources and Energy Efficiency Fund of Armenia Tamara Babayan stated that about USD 9 million grant was provided to Armenia by the Climate Investment Fund, which will be directed at the study of opportunities for the development of geothermal energy.
Source: ArmenPress Website
