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In a letter to the Department of Energy, Jolliville, through subsidiary Ormin Power Inc, said it will launch its 10-megawatt Inabasan mini-hydro project next week. The proposed mini-hydropower plant, which will be located in the municipality of San Teodoro, is targeted for completion in 2015. Electricity produced by the plant will be sold to Oriental Mindoro Electric Cooperative Inc, the sole power distributor in the province. Early this month, Ormin Power inked a P1.1 billion loan agreement with the Development Bank of the Philippines to fund 70 percent of the facility's construction. The balance will be shouldered by internally-generated funds. Jolliville is the holding firm of the Ting Group, a local conglomerate with interests in leasing, management services, property development and land banking, and a local waterworks system.
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