MANILA - The National Irrigation Administration (NIA) on Tuesday signed a memorandum of understanding with an energy company to develop a hydroelectric power project at the Aya Dam in Pantabangan town, Nueva Ecija.

The agreement with the firm First Gen Hydro Power Corp. will complement the existing Pantabangan-Masiway hydroelectric power plant through an acceptable scheme under laws such as the Renewable Energy Act of 2008, NIA said in a statement.

First Gen is the Lopez Group's renewable energy arm.

"In line with this, First Gen has requested NIA’s permission to conduct a comprehensive feasibility study of the project, including, but not limited to, legal, economic, social, financial, and technical viability, to which NIA has permitted the former to conduct the same," said the NIA.

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