Lockheed Martin Solar Power Testbed Will Foster Technology and Production Innovation
MOORESTOWN, N.J., Dec. 2 /PRNewswire/ -- Lockheed Martin
(NYSE: LMT) broke ground today for a solar power testbed to support its entry
into the utility-scale renewable power generation market.
The Solar System Test and Engineering Site (SolSTES) Array testbed in
southern New Jersey will provide Lockheed Martin engineers the opportunity to
integrate and test a variety of solar technologies and materials selected from
multiple suppliers, and to conduct production modeling. Gossamer Space Frames
of Long Beach, CA, is building the testbed frame for the facility, which is
scheduled for completion by Spring 2009.
"The SolSTES Array testbed is an example of the thorough systems
engineering and resource commitment we bring to the toughest technical
challenges -- especially those challenges that are clear national priorities,"
said Chris Myers, Lockheed Martin's vice president for Solar Energy Projects.
"The knowledge we gain in technology integration and cost-effective production
is a key advantage we will bring to nationwide opportunities -- primarily in
the desert southwest -- for utility-scale solar generating plants."
In November 2007, Lockheed Martin teamed with Starwood Energy Group to
pursue utility-scale solar generation projects in North America. Under the
agreement, Lockheed Martin is responsible for engineering, procurement,
manufacturing and systems integration. Starwood is primarily responsible for
arranging long-term power purchase agreements, site selection, permitting, and
for providing construction and permanent debt and equity financing. Since the
teaming agreement was signed, Lockheed Martin and Starwood have been pursuing
multiple utility-scale opportunities, and have invested in land acquisition,
transmission, permitting, supplier base, technology development, and
efficient, low cost, producibility techniques.
"Energy independence is a matter of national security and Lockheed Martin
is pursuing the practical and affordable development of numerous renewable
energy alternatives to support that goal," said Howard Luebcke, Lockheed
Martin's Director of Renewable Energy Business Development.
Lockheed Martin and Starwood estimate continued growth of solar power due
to individual state Renewable Portfolio Standards (RPS) -- which require
specific percentages of power to come from renewable sources -- and the
extension of the investment tax credit. In addition, the cost of electricity
generated from solar energy is continuing to converge with the cost of
electricity generated by fossil fuels. The teaming arrangement positions
Lockheed Martin and Starwood to help shape a new market with a methodical
approach to meet America's energy needs and business growth.
Headquartered in Bethesda, Md., Lockheed Martin is a global security
company that employs about 140,000 people worldwide and is principally engaged
in the research, design, development, manufacture, integration and sustainment
of advanced technology systems, products and services. The corporation
reported 2007 sales of $41.9 billion.
