Lockheed Martin Wins Role on Department of Energy's Contract to Help Reduce Energy Costs Across the Government
Rockville, Md., 12/22/2008 -- Lockheed Martin (NYSE:LMT) announced today that it was selected by the U.S. Department of Energy (DOE) to compete for future task orders under its Energy Savings Performance Contracts (ESPC). Fifteen other companies were also selected to compete for tasks.
Under the ESPC, the DOE will award multiple-award indefinite-delivery-indefinite-quantity (IDIQ) task orders. Lockheed Martin will compete to help the Federal government reduce its energy costs and environmental impact through increased energy efficiency, additional use of renewable energy, and improved utility management decisions at Federal sites.
The IDIQ will allow agencies across the government to issue task orders for facility-specific projects to lower their energy costs. All totaled, the tasks will have a maximum ceiling value of $80 billion over the 11-year period of the contract.
As the largest single energy consumer in the United States, the federal government is in a position to help significantly reduce our nation's energy usage, says Tom Grumbly, vice president, Lockheed Martin Energy & Security Services. Lockheed Martin brings the reach, capacity and resources necessary to help the government meet this important goal.
Under a task order, Lockheed Martin would conduct a comprehensive energy audit and identify improvements that will save energy at a facility. Following the audit, the corporation would design and construct a project that meets the agency's needs and arrange financing to pay for it. Projects under this program are required to generate savings sufficient to cover annual financing cost and generate positive annual cash flow to the government after financing costs. After the financing obligations are retired, all additional cost savings would accrue to the agency.
Lockheed Martin provides a full range of energy solutions to the government and regulated industry, including the DOE, state and regional energy organizations, utilities and businesses. The corporation manages DOE's Sandia National Laboratories and provides a broad range of IT support for DOE's Hanford Site. Lockheed Martin is one of the nation's largest implementers of energy efficiency programs for utility customers.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2007 sales of $41.9 billion.