The 13.8-kilovolt submarine cable stretches 2.5 kilometers and is designed to be capable of delivering 4 megawatts of electricity to the island, which is enough power to energize at least a dozen medium size tourist lodging facilities.
Mirant Philippines president James R. Harris said "the completion of this submarine cable can help boost Subic’s tourism industry and possibly attract more businesses and visitors."
The company noted that it has committed to sink such investment taking into consideration the potential of Grande Island as a prime tourist destination.
"Grande Island has enormous potential for tourism and recreation activities but requires electrification to achieve that potential," said Harris, further noting that such infrastructure upgrades can help to create income and generate employment opportunities at the Freeport.
It would be noted that the Philippine government has been strengthening its resolve in the core of tourism, this being one of the areas where great amount of revenues are being generated for the national coffers.
The Subic Bay Freeport Zone, considered the country’s premier economic zone and investment hub, is also among the nation’s most visited tourist destinations.
Upon its conversion into an investment haven, after the withdrawal of the US naval base, the Subic Bay Freeport has become a strategic host to an array of vital industries and establishments; to include Federal Express, Wistron (formerly Acer) and Sankyo Seiki, as well as entertainment theme parks, like Ocean Adventure.
Mirant is currently an electricity supplier to Subic through the Subic Enerzone Company, its joint undertaking with the Aboitiz Group, the utility company that distributes electricity within the zone.
It was gathered that the rate of electricity being supplied to the freeport is set lower than the grid rate of state-owned National Power Corporation.
The company also prides itself for spreading across the country its electrification program; wherein it first committed to energize 1,000 barangays and this number has been going up ever since.
"Our rural electrification program alone has energized over 1,000 villages, building over 11,000 kilometers of distribution lines, benefiting more than 1.5 million individuals in 33 provinces," the Mirant chief executive has noted.
Mirant Philippines Corporation is a wholly owned subsidiary of Atlanta-based Mirant Corporation, and stands as the largest private producer of electricity in the country, owning more than 2,000 MW of installed generating capacity nationwide.
Mirant is also a strategic stakeholder in the 1,200-megawatt Ilijan natural gas-fired power facility in Batangas; which is among the facilities utilizing the gas yield of the Malampaya field. (MMV)
