Constellation Energy Corp. considers geothermal project at Biliran Leyte

Alexander Richter 4 Jan 2010

Constellation Energy Corp. is considering financing and developing seven “potential” renewable energy projects in the Philippines, among them a geothermal power project in Biliran Leyte.

According to local news, “Constellation Energy Corp. is considering financing and developing seven “potential” renewable energy projects in the country, according to its top official, .

Jose P. Leviste Jr., president and chair of Constellation Energy, said these projects included a geothermal power project in Biliran Leyte; a wind power venture in Panglao, Bohol; and five hydropower projects in Visayas and Mindanao.

According to Leviste, the company refers to these as “potential” projects because Constellation does not have energy service contract yet, the projects are still under review and that it is still negotiating with project proponents.

The Biliran geothermal project belongs to Filtech Energy Drilling Corp. (Fedco), he said. Constellation is expected to provide financial services while Fedco will cover the technical aspect of the project.

Constellation senior VP Annette Manansala-Rafael said the company’s thrust was to acquire and finance the development of hydro, wind and geothermal power projects, as well as provide technical consulting services and political risk management.

“We are focusing on off grid areas. We wanted to contribute to the rural electrification project of the government and our core business in the acquisition, financing, development of renewable energy projects. We are into hydro, wind and geothermal projects for now, but we intend to look at solar and biomass (this year),” Rafael said.

Currently, Constellation already has two service contracts for wind power projects in Ilog, Negros Occidental, which covers a 2,106-hectare area and in Bayawan-Tanjay-Pamplona, Negros Oriental, covering a 8,019-ha property.”

Source: Business Inquirer