Saipan's neighboring island Guam is planning to tap deep cold sea water for air-conditioning purposes.
The Guam Power Authority Strategic Planning manager, John J. Cruz, says the proposed system would reduce the annual use of imported fossil fuels by more than 145,000 barrels.
Guam consumes about three million barrels a year.
Mr Cruz says the system is technically feasible in Guam, using proven technology.
He says the Power Authority is now conducting technical and feasibility studies on the project.
He says similar systems are already in use in parts of Canada, in Sweden and in Hawaii.
