MANILA, Philippines - Biliran Geothermal Inc., owned by Filtech Energy Drilling Corp. and Envent Holding Philippines Inc. of Iceland, is planning its first exploratory drilling in the third quarter of the year, a ranking energy official said.
The company will be conducting the exploratory drilling activities in Eastern Visayas, with a potential capacity of up to 50 megawatts, said Mario Marasigan, director of the Department of Energy’s Renewable Energy Management Bureau.
“They are planning to drill first geothermal exploratory well in the third quarter,†he said.
He said the consortium would eventually build the power plant, which would help address electricity needs in the island of Leyte.
In 2008, the DOE awarded the geothermal concession to Biliran Geothermal after the Sangguniang Panlalawigan of Biliran endorsed the project.
However, the city council has set conditions for Biliran, particularly meeting the environmental compliance certificate and geothermal renewable energy service contracts with the Department of Environment and Natural Resources and the DOE.
Biliran is situated in the Eastern Visayas region, 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 last year.
Last year, Envent reported that its Iceland-based shareholders including Reykjavik Energy Invest and Geysir Green Energy, failed to make a profit from their 2007 and 2008 investments.