Lockheed Martin, SEG Pursue Utility-Scale Solar

Posted by SI Staff on November 12, 2007 No Comments
Categories : FYI

Lockheed Martin and Starwood Energy Group Global LLC (SEG) are teaming to pursue utility-scale solar generation projects in North America. Under the agreement, Lockheed Martin will be primarily responsible for engineering, procurement, manufacturing and systems integration. SEG will be primarily responsible for arranging long-term power purchase agreements, site selection, permitting, and for providing construction and permanent debt and equity financing.

"Significant demand is growing for utility-scale solar generation projects of over 50 MW capacity in the U.S." says Chris Myers, vice president of business development at Lockheed Martin's maritime systems and sensors business." Combining our core systems engineering skills with Starwood creates a team with the full range of capabilities necessary to deliver clean, renewable power to support the nation's energy independence and a cleaner environment for all its citizens."

The companies estimate that up to 10,000 MW of solar power could come on line in the next 10 years. At an expected cost of $3 per watt of generating capacity, that would put the market size at $30 billion dollars.

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