July 14, 2008

Envent to Develop Geothermal Power Plant in Philippines

Envent Holding Philippines, a renewable energy firm, has signed a geothermal service contract for the Biliran Island in Leyte, Philippines.

The Biliran Geothermal Development Project is located on the island of Biliran in the eastern Visayas region of the Philippines. An island province, Biliran lies just a few kilometers north of the island of Leyte. The upstream part of the project will be executed by Envent's associate company, Biliran Geothermal.

Thor Gislason, chairman of Envent, said: "We are pleased to have been chosen by the Department of Energy to undertake the project in Biliran. Envent's key shareholders have over the past decade established themselves as global leaders in the startup of new geothermal power plants. We are now committed to the Philippine market and the Philippine government's goal of an additional 1,200MW of renewable energy capacity by 2013."