Bloomberg News

DCNS and Ocean Thermal Agree to Develop Power Plants Together

June 11, 2013

Ocean Thermal Energy Plc, a London-based clean-energy technology company, agreed to work with French engineering company DCNS SA to develop and build plants to generate power using differences in sea temperatures.

OTEC will build, own and operate the projects and raise financing for them, the companies said today in an e-mailed statement. DCNS will be responsible for engineering, procurement and construction, according to the statement. Two initial projects have been selected in the U.S. Virgin Islands and in Asia, they said.

In addition to generation, the technology can make clean water and replace conventional air conditioning, according to the statement. The Virgin Islands project will include a cooling system using cold sea water, they said.

While ocean thermal energy systems are able to produce round-the-clock power and clean drinking water, there are currently no commercial-scale plants in operation. Lockheed Martin Corp. (LMT:US) and China’s Reignwood Group said in April they plan to build a 10-megawatt facility off southern China.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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Companies Mentioned

  • LMT
    (Lockheed Martin Corp)
    • $167.12 USD
    • 0.15
    • 0.09%
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