Renewable energy firm powering up plant in Nueva Vizcaya within 2021

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Metro Manila (CNN Philippines, October 14) — Start-up renewable energy firm Matuno River Development Corporation (MRDC) is on course of boosting the power supply of Luzon with the commercial operations of its ₱1 billion hydroelectric power plant in Nueva Vizcaya set before the year ends.

The 8-megawatt hydroelectric power plant is strategically located along Matuno River, a tributary of the Magat Dam which has a large watershed area of 590 square kilometers.

It will be connected to the Bayombong Substation of the National Grid Corporation of the Philippines, with its output "augmenting the power supply needs of Luzon especially with the unpredictable outages of the older and less efficient coal power plants," the company said.

It added that the plant will also provide irrigation to the farmers in Nueva Vizcaya.

"The company is very much optimistic and bullish in our push for green energy which we are proud to say, defies the limitations of the current pandemic and its restrictions," MRDC president Armando L. Diaz said in a statement.

"The project is a realization of the company’s plan to push forward the Department of Energy’s agenda towards making renewable energy a significant part of the country’s energy mix," he added.

In a mobile message on Thursday, the official said the total investment in the project reached "over a billion pesos".

MRDC is a project company under homegrown group Magis Energy Holdings Corporation.

Diaz said Magis Energy has two more projects in Samar, with another hydroelectric power project that will operate a 16-megawatt plant