Otec Plant News

Despite historic lows in traditional oil and gas energy markets, research and develoment continues in earnest on a number of projects designed to produce green energy. The latest, an Ocean Thermal Energy Converter (OTEC) from KRISO, received Approval in Principle from classification society Bureau Veritas. KRISO (Korea Research Institute of Ships & Ocean engineering), established in 1973, is a government-funded research institute in the Republic of Korea and the leader in technology development in ships and ocean engineering.

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.