News

Icelandic project by Envent to start in Philippines

Alexander Richter Alexander Richter 5 Apr 2009

Initial design work on a new geothermal power plant project of about 150 MW in the Philippines is about to start. The project is run by Icelandic Envent Holding, co-owned by Geysir Green Energy and Reykjavik Energy Invest.

As reported locally, initial design work on a new geothermal power plant project in the Philippines is about to start. The project is run by Icelandic Envent Holding, which is owned by Geysir Green Energy (80%) and Reykjavik Energy Invest (20%). The project is expected to provide an installed capacity of 150 MW in total, with a first initial step of 50 MW, which is expected to cost about US$ 150 million.

The exploration phase of the project is being finished and a feasibility study is the next step in the project development. Envent is now advertising for offers to be made in preparing the study.

The plant will be on Biliran Island, a high heat field, which was initially researched in 1982. The daughter company Envents and its Philippine partners was granted an exploration and utilization concession for the field.

The spokesperson for Envent says that all consulting and design work will take place in Iceland, with about 10 jobs being utilized with Icelandic engineering firms.

Source: Icelandic Morgunbladid, more details on the project to be found in the website of Geysir Green Energy and Reykjavik Energy Invest.