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Lockheed Develops Ocean Power Plant for Reignwood in China

Lockheed Martin Corp. (LMT) agreed to work with Reignwood Group to develop a plant that will generate power using differences in sea temperature off the coast of southern China.

The 10-megawatt facility will be designed by Lockheed Martin and will be the largest so-called ocean thermal energy conversion project to date, Bethesda, Maryland-based Lockheed said today in a statement. It will supply all the power needed for a green resort being built by Reignwood.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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