China-U.S. Ocean Thermal Energy Plant Development

Press Release
Wednesday, April 17, 2013
Signing Ceremony: Photo courtesy of State Department

Lockheed Martin and Reignwood Group to develop South China Sea ocean thermal energy conversion (OTEC) power plant.

A memorandum of agreement between the two companies was signed recently in Beijing. Following the ceremony, both companies met with United States Secretary of State John Kerry during his first official state visit to the People’s Republic of China.

The 10-megawatt offshore plant, to be designed by Lockheed Martin, will be the largest OTEC project developed to date, supplying 100 percent of the power needed for a green resort to be built by Reignwood Group. In addition, the agreement could lay the foundation for the development of several additional OTEC power plants ranging in size from 10 to 100 megawatts, for a potential multi-billion dollar value.

OTEC takes the natural temperature difference found in the ocean in tropical regions and uses it to create power. This technology is well-suited to island and coastal communities where energy transportation costs typically make other sources of power very expensive. The process provides a native power source to areas, and, like other renewable energy technologies, OTEC plants will be clean, sustainable and powered by free fuel.

Unlike other renewable energy technologies, this power is also base load, meaning it can be produced consistently 24 hours a day, 365 days a year. A commercial-scale OTEC plant will have the capability to power a small city. The energy can also be used for the cultivation of other crucial resources such as clean drinking water and hydrogen for applications such as electric vehicles.

“The benefits to generating power with OTEC are immense, and Lockheed Martin has been leading the way in advancing this technology for decades,” said Dan Heller, vice president of new ventures for Lockheed Martin Mission Systems and Training. “Constructing a sea-based, multi-megawatt pilot OTEC power plant for Reignwood Group is the final step in making it an economic option to meet growing needs for clean, reliable energy.”

In the picture: Secretary of State John Kerry, middle, met with representatives of Lockheed Martin and Reignwood Group
 

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Wärtsilä to Begin Building LNG Terminal in January

Wärtsilä has been given full notice to proceed (NTP) from Manga LNG Oy for the supply of a liquefied natural gas (LNG) import terminal in Tornio, Northern Finland.

Polarcus Awarded 3D Project Off West Africa

Polarcus Limited has signed a letter of intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa.   The project,

Boskalis, VolkerWessels Win Offshore Wind Farm Work

Royal Boskalis Westminster N.V., in partnership with Volker Stevin International (VolkerWessels), has been awarded a contract by Iberdrola Renewables Offshore Deutschland

Energy

Liquefaction Terminals to Dominate LNG Capital Expenditure

Capital expenditure (Capex) on global LNG facilities is expected to total $259 billion (bn) over the period 2015-2019, with investments expected to be 88% larger

Polarcus Awarded 3D Project Off West Africa

Polarcus Limited has signed a letter of intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa.   The project,

EGAS Tenders for as many as 48 LNG Cargoes

Egypt's state-owned gas company EGAS has tendered to buy at least 48 cargoes of liquefied natural gas (LNG) for delivery in 2015/16, three traders said. A senior

Offshore Energy

DNV GL Targets Safer Approach to Subsea Lifting

The completion of a joint industry project (JIP) to improve existing standards and regulations around subsea lifting operations has resulted in a new recommended practice (RP).

Polarcus Awarded 3D Project Off West Africa

Polarcus Limited has signed a letter of intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa.   The project,

Boskalis, VolkerWessels Win Offshore Wind Farm Work

Royal Boskalis Westminster N.V., in partnership with Volker Stevin International (VolkerWessels), has been awarded a contract by Iberdrola Renewables Offshore Deutschland

Underwater Engineering

DNV GL Targets Safer Approach to Subsea Lifting

The completion of a joint industry project (JIP) to improve existing standards and regulations around subsea lifting operations has resulted in a new recommended practice (RP).

Lowrance Renews Insight Genesis College Cup

Lowrance®, a world-leading brand in fishing electronics since 1957— announced today the renewal of its Insight Genesis™ College Cup. In its second year, the

Japan Gains Edge in Australia Submarine Deal

Australia and Japan appear to be inching closer to an agreement on the sale the top-secret technology from Japan to build a fleet of new generation submarines.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1546 sec (6 req/sec)