Investment of USD 9 million to be made for development of geothermal energy in Armenia

YEREVAN, JULY 24, ARMENPRESS. 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.