Armenia Will Receive $350 000 for Pilot Geothermal Program

YEREVAN (Noyan Tapan)–At the regular session of the National Assembly–Minister of Energy Karen Galustian suggested voting "On issuing gran’s for preparatory works of the pilot geothermal program of Yerevan" be postponed until the regular three-day session to be held June 12-14.

The agreement foresees the allocation of two gran’s from the US in value of $350,000 to the Armenian government. Activities on the use of the geothermal energy source will be financed by the first grant of $300,000. The second grant will be issued for the purpose of paying for consulting services. The consulting services include the study of the quality–chemical composition of water and their possible declinations–economic and financial analysis of geothermal energy production and others. The bank will select the consultants and supervise their work. The Armenian government pledges to provide consultants with data–services and equipment called for in the agreement free of charge.

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