The Biliran Geo-Thermal Project
The Biliran Geothermal Inc. owned by Filtech Energy Drilling Corporation and Envent Holdings Philippines Inc. of Iceland will conduct it’s first exploratory drilling in July this year.
Mario Marasigan, director of PNOC’s Renewable Energy Management Bureau, announced that the company will be conducting the exploratory drilling activities in Eastern Visayas with a potential capacity of 50 megawatts.
The consortium would later build the power plant which would answer the electricity needs of Biliran and Leyte Islands.
Biliran Island is an independent province situated in Eastern Visayas with an existing connection to the national power grid..
The construction of the power plants in the province has been delayed because of the financial crisis experienced by Envent. In 2012 Envent reported that its Iceland-based shareholders including Reykjavik Energy Invent and Geysir Green Energy failed to make a profit from their 2007 and 2008 investments.
Then PNOC-EDC Director Ralph Salazar vigorously opposed the sale of PNOC assets to the Lopez Group of Company that will include the assets in Biliran Province. In 2008, the Department of Energy awarded the geothermal concession to Biliran Geothermal after the province of Biliran endorsed the project.
It is expected that with the full implementation of the Biliran Geothermal project, the cost of electricity in Biliran will reduce the price per kilowatt hour.
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