Dec 30 2009
Geysir Green Energy provides its services in the development of geothermal power projects in the Philippines. The services are provided through its subsidiary known as Envent. The main geothermal project it is involved in the Philippines is situated on the Biliran Island. The electricity generated in this geothermal power plant will be supplied to one of the three grid systems in the country, the Visayas grid.
Geysir Green Energy began surface exploration on the Biliran Island in 2008 in order to form a model of the geothermal resources in the area. The exploration consists of an assessment of the various geological, geophysical and geochemical aspects of the island and its resources. Once this phase is complete and the potential is confirmed, Geysir Green Energy will begin drilling to achieve a beginning phase of 50 MW.
The Biliran Power Corporation, owned by Geysir Green Energy’s subsidiary Envent, manages the entire geothermal power project. Once a feasibility study is complete in 2009, the project will move into the financing stage. This is followed by construction, which is estimated to begin in the year 2010.
Source: http://www.geysirgreenenergy.com