Lockheed Martin to buy solar power from Duke Energy

US security and aerospace company Lockheed Martin (NYSE:LMT) yesterday announced it signed a 17-year power purchase agreement for 30 MWp of solar power produced by Duke Energy Renewables.

The renewable power purchase, which is expected to amount to 72,000 megawatt-hours per year, will provide clean energy across all Lockheed Martin domestic business segments.

The solar-generated electricity will come mainly from the new photovoltaic facility, operated by Duke Energy Renewables in Conetoe, North Carolina. With its 80 MW, it is currently the largest solar power generating facility east of the Mississippi River.

"Signing this agreement for the acquisition of large-scale renewable power is a significant milestone towards our commitment to environmental stewardship and is one more step in the expansion of our Go Green program looking for operational efficiencies and best business value to our operations," said Lockheed Martin vice president of energy, environment, safety and health, Carol B. Cala.

Lockheed Martin already uses nearly 260,000 MWh of green power annually including renewable energy credits, which is enough to meet 16% of the corporation's electricity use.

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