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Drilling for $150-M Biliran energy project to start 2013

Thursday, October 11, 2012 08:16 AM    Views : 1494by:Rodrigo S. Victoria

The Department of Energy said drilling of exploration wells for a geothermal project in Biliran will begin in 2013. The project will generate about 50 megawatts of power.

In a report, DOE Undersecretary Jose M. Layug Jr said the agency will partner with another Iceland-based firm Orka Energy in the exploration and development of the $150 million project of Biliran Geothermal Inc. in Eastern Visayas.

Orka Energy plans to drill two to three exploration wells in 2013 to support the operations of the geothermal facility it plans to put up in Biliran.

The firm also specializes in exploration and development of steam fields and production of electricity from geothermal energy.

Layug said Orka Energy acquired the stakes formerly held by Reykjavik Energy Invest and Geysir Green Energy, both of Iceland, in the Biliran project.

The project is expected to benefit five electric cooperatives and about 1.9 million residents in Biliran and Leyte Islands, the report said.

The report also said the parties involved in the Biliran geothermal project may start commercial operations if the drilling of exploration yield positive results.

Layug said the presence of Orka Energy in the country would allow the country's geothermal developer to learn from the technological advancement made by the Icelandic firm particularly in the area of "district heating."

The Philippines is the second largest geothermal producer in the world with geothermal capacity of about 1,902 megawatts at present.

 

Source:http://pia.gov.ph/news/index.php?menu=2&;webregion=R08&article=1331349764759

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