Behind the company are the Reykjavik Energy Invest and Geysir Green Energy, who have been active elsewhere around the globe in geothermal power investments. These global leading firms have focused on geothermal energy and are both based in Iceland. The Philippine project in Leyte will be called the Biliran Geothermal Development Project and located on the island of Biliran. The potential for geothermal power here is estimated to be 100 MW.
Mr. Thor Gislason, Chairman of the Board, Envent was quoted as saying; 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 1,200 MW of renewable energy capacity by 2013.
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