Geysir Green Energy increases stake in Philippines project

Iceland’s Geysir Green Energy said it increased its equity ownership in the Philippines-focused geothermal explorer Envent to 80% in a deal that underscores company’s ambitions to increase its global portfolio.

7 February 2009 17:02 GMT Updated 26 September 2016 15:09 GMT

By Tom Darin Liskey

Previously, Geysir Green Energy held a 50% stake in the company. No financial details on the deal were released.

The Icelandic geothermal developer said Envent has a raft of geothermal projects in the Philippines. Specifically, Envent is developing a project on Biliran Island in the central Philippines close to the grid system. That project is being carried out via Envent's associate company, Biliran Geothermal.

“The

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