GEOFUND 2: ARMENIA GEOTHERMAL PROJECT
Sector: Solar • Location: Armenia
Source: World Bank
The objective of the Second GeoFund Geothermal Project in Armenia is to assess the feasibility of exploratory drilling of the geothermal site with the estimated highest geothermal potential. The project will support: (i) technical assistance to conduct comprehensive technical investigation works at Karkar and Gridzor geothermal sites, in two phases, and (ii) operating costs of the implementing age
- Status
- Closed
- Sector
- Solar, Biomass, Wind, Geothermal, Government
- Location
- Armenia
- Updated
- 22 Jul 2026
- Source
- World Bank
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Project Information
Participants
Sponsoring Agency |
Status
Original status | closed |
Taiyo status | Closed |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | The objective of the Second GeoFund Geothermal Project in Armenia is to assess the feasibility of exploratory drilling of the geothermal site with the estimated highest geothermal potential. The project will support: (i) technical assistance to conduct comprehensive technical investigation works at Karkar and Gridzor geothermal sites, in two phases, and (ii) operating costs of the implementing agency for this project. The scope of this project will be limited to technical assistance for comprehensive field investigation works. Conditional upon the outcome of the field investigation works, further GeoFund support may be considered for Armenia, within the framework of the above mentioned GeoFund adaptable program loan (APL). More specifically, this possible second project could be supported through the GeoFund's direct investment funding window or geological risk insurance window to help financing of investments enabling utilization of geothermal energy resources. Eligible investment costs could include the drilling costs of exploratory wells. The GeoFund may consider supporting part of the eligible drilling costs of one or two wells with the estimated depth of 3 km. |
Original sector | FY17 - Energy and Extractives |
Budget |
Location
Country | Armenia |
Source
Source | World Bank |
URL |
More Details
Record type | Project |
Sector | Solar, Biomass, Wind, Geothermal, Government |
Article published date | 2025-12-15 |
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