The Oriental Mindoro Electric Cooperative (Ormeco) announced it had completed the full payment of its P700-million loan from the Development Bank of the Philippines (DBP).

The loan, secured in November 2009, financed the Linao-Cawayan Mini-Hydro Power Plant, a pioneering renewable energy initiative in Oriental Mindoro.

Ormeco received a certificate of award (for payment completion) on Tuesday in a ceremony held at the Calapan City Convention Center in Barangay Tawiran.

Officials and stakeholders gathered to celebrate what they described as a triumph of collaboration and commitment to sustainable energy.

The Linao-Cawayan Mini-Hydro Power Plant, completed in two phases, has a total generating capacity of 5.1 megawatts (MW).

The first phase, operational since December 2011, produces 2.1MW, while the second phase, launched in February 2015, contributes an additional 3MW.

“This project is more than just a power plant; it is a testament to our dedication to providing reliable and sustainable energy for the people of Oriental Mindoro,” said Ormeco General Manager Humphrey Dolor.

Dolor said the project is the first renewable energy venture by an electric cooperative in the country following the passage of Republic Act 9513, or the Renewable Energy Act of 2008.

He noted that completing the project involved extensive compliance with environmental and cultural requirements, as the plant is situated within a Mangyan community.

The renewable energy facility has contributed to the province’s energy reliability and sustainability, reducing dependency on traditional energy sources, Dolor said.

According to Dolor, harnessing of renewable energy translates to lower electricity rates for consumers, as provided by the Electric Power Industry Reform Act (Epira).

Dolor also announced Ormeco’s next venture, the Ormeco Solar Power Plant, which is currently in its initial planning stages.

Site identification for the solar project is underway.

National Electrification Administration head Antonio Mariano Almeda congratulated Ormeco in a video message, citing the project’s importance in advancing the province’s energy development program.