Lockheed Martin and Duke Energy sign 17-year renewable energy pact

Sources: Lockheed Martin and Duke Energy

The renewable power purchase, which is expected to produce 30 megawatts of solar energy for the U.S. national grid, will provide clean energy across all Lockheed Martin domestic business segments.

Lockheed Martin [NYSE: LMT] has entered into a 17-year power purchase agreement for solar-generated electricity produced by Duke Energy Renewables. The renewable power purchase, which is expected to produce 30 megawatts (approximately 72,000 megawatt hours per year) of solar energy for the U.S. national grid, will provide clean energy across all Lockheed Martin domestic business segments.

The new solar facility, operated by Duke Energy Renewables in Conetoe, North Carolina, is currently the largest solar power generating facility east of the Mississippi River producing 80 megawatts of total energy. As part of Lockheed Martin’s comprehensive sustainability commitments, the corporation is focused on reducing overall energy consumption and greenhouse gas emissions through energy-efficiency measures as well as renewable energy projects.  

The U.S. Environmental Protection Agency listed Lockheed Martin as one of the top rated corporations on its 2015 ranking of the largest green power users. Lockheed Martin uses nearly 260,000 megawatt hours of green power annually including renewable energy credits, which is enough to meet 16 percent of the corporation’s electricity use.

Rocky Mountain Institute, an independent nonprofit focused on market-based clean energy solutions, commended Lockheed Martin for its commitment to renewable energy, “As one of the first corporations to announce a major renewable energy deal in 2016, we applaud Lockheed Martin for its clean energy leadership, not only in its sector but across the market broadly,” said Hervé Touati, head of Rocky Mountain Institute’s Business Renewables Center.

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