TOKYO -- Japanese trading house Marubeni said Thursday that it will team with Kansai Electric Power and Chubu Electric Power to efficiently deliver electricity to a Filipino green city being built on the site of a former U.S. military base.
The companies will build a smart grid for New Clark City containing 45 km of power lines and about 30,000 electricity meters that can transmit data. The city's power needs are projected at 250 MW. Power will first be supplied to events in the city related to the Southeast Asian Games, which the Philippines is hosting this year.
The project has already received government approval. A joint venture with Manila Electric and the Philippines' Bases Conversion Development Authority will be formed to supply electricity for 25 years from 2019. Marubeni will own 18% of the new entity while Kansai Electric and Chubu Electric will each take 9% stakes. Manila Electric will control 54%. The total investment amount was not disclosed.
New Clark City is located 120 km northwest of the capital Manila. The government expects a population of 1.2 million by 2065.