| Financier | Commitments |
|---|---|
| Global Environment Facility (GEF) | 1.50 |
| Borrower/Recipient | 0.30 |
GEOFUND 2: ARMENIA GEOTHERMAL PROJECT
Abstract*
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... Show More
Development Objective
The global environmental objective is to remove the barriers to development of geothermal energy.
The project development objective is to assess the feasibility of exploratory drilling of the geothermal site with the estimated highest geothermal potential.
Key Details
Project Details
P114409
Closed
Ani Balabanyan
N/A
December 18, 2008
(as of board presentation)
February 24, 2009
April 28, 2009
US$ 1.80 million
N/A
2009
US$ 1.50 million
C
January 15, 2013
September 30, 2012
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | N/A |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | N/A |
| Lending Instrument | |
|---|---|
| Grant Amount | 1.50 |
| Total Project Cost** | 1.80 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
Detailed Financial Activity as of March 31, 2025
No data available.
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Counterpart Funding | Satisfactory | 2012-09-24 |
| Summary Global Objective Rating | Satisfactory | 2012-09-24 |
| Project Management | Satisfactory | 2012-09-24 |
| Financial Management | Satisfactory | 2012-09-24 |
| Monitoring and Evaluation | Satisfactory | 2012-09-24 |
| Overall Implementation Progress (IP) | Satisfactory | 2012-09-24 |
| Procurement | Satisfactory | 2012-09-24 |
COMPLETION RATINGS
| INDICATOR | IMPLEMENTATION COMPLETION & RESULTS REPORT: 03-05-2013 |
|---|---|
| Outcomes | Substantial |
| Risk to Development Outcome | Negligible |
| Bank Performance | Substantial |
| Borrower Performance | Substantial |
| Government Performance | Substantial |
| Implementing Agency | Substantial |
INDEPENDENT EVALUATION RATINGS
| INDICATOR | ICR REVIEW: 10-31-2013 | PROJECT PERFORMANCE ASSESSMENT REPORT: |
|---|---|---|
| Outcome Rating | Satisfactory | N/a |
| Risk To Development Outcome | Moderate | N/a |
| Bank Performance | Satisfactory | N/a |
| Borrower Performance | Satisfactory | N/a |
| Government Performance | Satisfactory | N/a |
| Implementing Agency | Satisfactory | N/a |
| Icr Quality | Satisfactory | N/a |
| M&e Quality | Substantial | N/a |
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Surface geological map is produced containing fault structures, potential recharging zones, and surface geothermal manifestations Value Surface geological map is produced with proposed a Date September 10, 2012 December 31, 2009 Comment The target was achieved on November 15, 2009 Two cross sections with the visualization of the rock formation resistivity are produced; also the need for performing 3D seismic is assessed Value Two cross sections are produced and the justificat Date September 10, 2012 December 31, 2009 Comment The target was achieved on November 15, 2009 3D images of the site subsurface structure with main fault zones and the depth, extent and thickness of permeable zones are produced; and at least 3 cross sections Value 3D images of the site subsurface structure are pro Date September 10, 2012 July 31, 2012 Comment The target was achieved on May 15, 2012. The economic and financial rates of return are assessed and sensitivity analysis conducted Value The economic and financial analysis is completed Date September 10, 2012 September 28, 2012 Comment Planned to be completed by September 24, 2012. Decision whether to drill or not to drill exploratory wells for the geothermal sites, based on the results of site investigation works Value drill or not drill decision made Date September 10, 2012 September 30, 2012 Comment Early to measure. 3D MT sounding study and independent interpretation of results of 3D MT sounding were completed. Assessment ofeconomic and financial viability is underway; the preliminary results indicate that the plant viability critically depends on theresource temperature, which can be confirmed through exploratory drilling. The outcome indicator will be achieved by the projectclosingdate when the economic and financial assessment is completed.