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.