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Geothermal Exploratory Drilling Project (GEDP)
The Geothermal Exploratory Drilling Project (GEDP) is a new project consisting of 2 independent stages, the purpose of which is to confirm the suitability of the geothermal resource at the Karkar field for electric power generation. If confirmed, further steps will include the involvement of the private sector in the developement of the geothermal power plant. The GEDP is implomented with the support of the World Bank (WB). On Monday, 8 June 2016 the Wold Bank Board of Executive Directors approve a USD 8.55 million grant for the realisation of the first stage of the project, with Arthur Kochnakyan appointed as the World Bank task team leader for the project. The objective of the Governement of the Armenia is to construct a geothermal power plant at the Karkar site upon confirmation of the availability of expolitable geothermal resouces.With the total potential for geothermal power in Armenia currently estimated at approximately 150MW, indigenous geothermal resources have the potential to become an affordable source of base-load electricity in turn contributing to the country's energy security.