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Article: Iceland-based firm hikes stake in local geothermal company
- Article from:
- The Manila Times
- Article date:
- February 9, 2009
- Author:
CopyrightCopyright Content Parnership Pty Ltd Feb 9, 2009. Provided by ProQuest LLC. (Hide copyright information)
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Driven by the recent passage of the Renewable Energy Act, Iceland-based Geysir Green Energy has raised
its stake in a local energy company currently scouring the Eastern Visayas for geothermal energy resources.
From a 50-percent ownership in Envent Holding Philippines, the Icelandic firm has increased its stake in
the former to 80 percent, Geysir said in a statement. Its partner in Envent is Reykjavik Energy Invest,
which is also based in Iceland.
Envent´s most advanced geothermal project to date in the Philippines is on Biliran Island, located in the
Eastern Visayas region of the Philippines.
The Biliran project is being executed through Envent´s associate company, Biliran ...