Lockheed Martin and Starwood Energy in solar generation partnership

[OKIsItJustMe]

http://www.bizjournals.com/philadelphia/stories/2007/11/05/daily49.html

Friday, November 9, 2007 - 3:52 PM EST

Lockheed Martin and Starwood Energy in solar generation partnership

Philadelphia Business Journal

Lockheed Martin Corp. and Starwood Energy Group Global LLC said Friday they are teaming up to pursue building utility-scale solar generation projects in North America.

Lockheed Martin Maritime Systems and Sensors, which is based in Moorestown, N.J., will handle engineering, procurement, manufacturing and systems integration. Starwood Energy Group will be in charge of arranging long-term power purchase agreements, site selection, getting permits and providing construction and permanent debt and equity financing.

The companies estimate that up to 10,000 megawatts of solar power generating capacity could come on line in the next 10 years. At an expected cost of $3 per watt of generating capacity, that would put the market size at $30 billion dollars.

Lockheed Martin (NYSE:LMT) is a defense contractor based in Bethesda, Md.

Starwood Energy Group Global is a private-equity fund. It is a subsidiary of Starwood Capital Group Global LLC, a real-estate investment firm based in Greenwich, Conn.