Marubeni and the Italian company's renewable energy subsidiary, Enel Green Power, will partner with a local Filipino company that owns resource development rights, setting up a joint venture company and beginning exploratory drilling probably within the year.
Acting as an independent power producer, this new company will build and operate geothermal plants and sell the generated electricity. The initial plan is to spend some 20 billion yen to 30 billion yen ($159 million to $238 million) to launch a first plant with an output of more than 100 MW in around 2020.
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