News on the Biliran geothermal project in the Philippines
Higantangan Island, Biliran, Philippines (source: flickr/ Bulaclac Paruparu, creative commons)
Alexander Richter
9 Oct 2012
The Biliran geothermal project in the Philippines is expected to see drilling next year under development plans for an initial 35-40 MW power plant on the island under new ownership.
Development is expected to advance at the Biliran geothermal power project in the Philippines, as reported by the Manila Bulletin quoting Energy Undersecretary Jay Layug.
Icelandic company Orka Energy (not as quoted in the original article “HS Orka”, which is another company altogether) has taken a majority stake in the project, which is developed by Envent Holdings.
The Biliran project has seen several Icelandic players involved over the past few years, among them Geysir Green Energy in affiliation with Reykjavik Energy Invest. The latter has first explored the opportunity following the privatization of EDC in the Philippines. Orka Energy has acquired various assets of now dissolved Geysir Green Energy, among them the Biliran project, as reported here.
In 2010 the project was believed to be one of the first to reach commercial development.
Orka Energy now intends to develop between 35 and 40 MW and it is said the planned power output is already being offered to off-takers in the country. The project is expected to require an investment of around $ 150 million.
“Once exploration activities will confirm commercial scale of steam that can be drawn from the production wells, the next implementation milestones to be worked on will be the financial closing and tapping the turnkey contractor for the facility’s construction. The plant was initially targeted to be on stream this 2012, but given development hurdles, it is seen that commissioning may not come until 2015.”
Source: Inquirer Business, Manila Bulletin
