He said preliminary research data is very optimistic and promising, 'and we can assert that there are several geothermal sources in the territory of Armenia, but no company would agree to implement such a risky project until exploration drilling data is obtained.'
The early-stage analyses suggested that a 28 MW geothermal power plant with a total estimated cost of $90-100 million could potentially be constructed at the site. The potential geothermal power plant could be developed with a mix of public and private capital. The development of geothermal power would contribute to the reduction of greenhouse gas emissions.