Geysir Green Energy [SEP] inception
Geysir Green Energy
Geysir Green Energy is an Icelandic energy company. It is part-owned by Atorka, Íslandsbanki, VGK-Invest and Reykjanesbæjar and specializes in projects related to geothermal energy production and maximising potential in low-temperature areas. Geysir Green Energy was established on January 5, 2007, and on April 30, 2007 the company purchased a 15.2% stake in Hitaveita Suðurnesja for 7.6 billion króna. Among the major projects of the company is ENEX, a subsidiary which develops power plants that use geothermal energy. Enex
Geothermal developer Envent Holding Philippines, Inc., a joint venture of Geysir Green Energy and Reykjavík Energy Invest of Iceland, entered into a Public-Private Partnership agreement in the establishment of the 49-megawatt Biliran geothermal facility in the Visayas which costs approximately US$150 million; however due to the Eurozone and Icelandic financial crisis, Orka Energy Holdings Ehf took over its financial commitments and obligations to the project and the Philippine Government, through the Department of Energy, expects that the drilling of exploration wells will commence sometime in 2013. The said project