Biliran project seeking necessary permits for project start in April 2013
Prior to releasing funds of up to $180 million for the company's Biliran project in the Philippines, Orka Energy in tandem with Biliran Geothermal Inc. is currently seeking the necessary permits to start development by April 2013.
Icelandic Orka Energy expects to invest up to $180 million (about P7.38 billion) into its geothermal project of initially 49 MW in power generation capacity on Biliran island in the Philippines.
Orka, represented by local partners is currently in the process of securing necessary permits for the start of development of the project. The permits sought after include those for the approval of exploration drilling of three exploration wells.
These documents are further necessary in securing an Environmental Clearance Certificate (ECC) from the regional office of the Department of the Environment and Natural Resources in Region 8.
According to a company representative, the company has set an own deadline of December 20, 2012 for the completion of necessary paper work before funds will be released and the project can start by April 2013.
Source: Philippine Information Agency