MRVI breaks ground on hydro power project in M. Oriental.
MINERGY Renewable Ventures Inc. (MRVI) conducted groundbreaking and capsule-laying ceremonies on the 10 megawatts (MW) Lower Cabulig and the 9.3 MW Cabulig II hydroelectric power projects in Barangay Natubo, Jasaan, Misamis Oriental last October 15.
DOE said MRVI’s 9.3 MW hydro project has a total estimated project cost of P2 billion and target commercial date of operations by May 2027.
DOE assistant secretary Mylene Capongcol said such partnerships are helpful for the collective efforts in achieving the country’s RE goals.
Capongcol highlighted the target of a 35 percent share of RE in the generation mix by 2030 translating to approximately 52 gigawatts of installed capacity.
“To achieve this ambitious target, we need all sectors to contribute, including the manufacturing sector, which plays a vital role in energy consumption and emissions reduction,” Capongcol said.
“These collaborations demonstrate the commitment of both the public and private sectors to transition to cleaner energy sources, which is essential for reducing greenhouse gas emissions and ensuring energy security,” Capongcol added.
