Lockheed Martin and Victorian Wave Partners sign contract to start development of world’s largest wave energy project

To advance the availability of alternative energy solutions, Lockheed Martin [NYSE: LMT] announced today that it has signed a contract with Victorian Wave Partners Ltd. to begin developing the world’s largest wave energy project announced to date.

This is a significant step toward making ocean energy commercially available.

The 62.5-megawatt peak power wave energy generation project will be built off the coast of Victoria, Australia, using the PowerBuoy