By Restituto A. Cayubit
Cabucgayan, Biliran – The mayor of this town foresees that the electricity rate will go down and the economic conditions of this municipality will improve after the geothermal power plant in this province will be operational later this year.
Mayor Edwin Masbang, in an interview with reporters, welcomed the establishment of the geothermal power plant in the province, citing the benefits of his town being one of the host municipalities of the power plant.
Masbang pointed out that his town will be entitled to royalty from the geothermal power plant and the income will be used for the development of the municipality.
The geothermal exploration and power plant is owned by Biliran Geothermal Incorporated (BGI), 60 percent of which is owned by Emerging Power Inc., a Filipino corporation, while the 40 percent is owned by Orka Energy, a company from Iceland.
Masbang said that BGI holds a 25-year renewable energy contract for the geothermal exploration and development covering 260 square kilometers in which his town is part of the area covered.
Masbang said that BGI has already completed the drilling of eight wells with the capacity of some 100 megawatts. He said the six wells are programmed to generate power next month.
“We will be inviting investors to our town for the development of our resources preferably in agriculture, fisheries and aquaculture, and tourism to improve our economy and to provide jobs for our constituents,” Masbang said.