Solar and geothermal power expected to lure investment to Biliran Island, Philippines
With ongoing development of geothermal and solar power plants on Biliran Island in the Eastern Visayas of the Philippines, the local government is hopeful to be able to attract investments and economic development.
The Provincial Government in Biliran, Philippines – an island in the Eastern Visayas – is confident it will be able to attract more investments, with the completion of geothermal and solar power projects. The island of Biliran lies to the north of Leyte, the location of a large number of geothermal power plants.
Biliran Governor Gerardo Espina Jr. said although Biliran was small, they were “lucky that some investors are interested to put investment here.” “The geothermal and solar power plants show that we have something to offer to investors,” Espina said.
“This will mean economic development, possible reduction of electricity rate, and power stability. But the investment’s main benefit for us is on job generation especially in towns where power plants are located,” Espina said earlier this year. The power plant by Biliran Geothermal Incorporated (BGI) is located in Caibiran town, while the Biliran Solar Power Plant of E and P Green Energy Inc (EPGen) is located in Biliran town.
The plants will mean economic development, possible reduction of electricity rates, and power stability. The geothermal power plant seeks to generate 10 MW, while the solar power plant is targeting to generate 25 MW with plans to start the plant early next year.
With a status of May this year, BGI expects the geothermal power plant to be operational by September 2018 and was in the process of negotiating power purchase agreements with electric power distribution utilities