February 6, 2009
Lockheed Martin Buys RECs
Lockheed Martin purchased 147,000 renewable energy certificates through an online auction held on World Energy’s World Green Exchange. Each REC represents 1MwH of power
World Energy is the Massachusetts firm that conducts auctions for the Regional Greenhouse Gas Initiative (RGGI), the first cap and trade system for CO2 in the U.S.. The company did not disclose the auction price, but said they were able to provide the credits at a 50% discount to Lockheed Martin.
The RGGI auctions, which began in September of 2008, have raised over $145 million so far.
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Reader Comments
What exactly does Lockheed plan to do with these certificates. How are they distributed and what do they mean? I’m doing a term paper on the company and this is the begining of my research.
Shelly
Shelly Bennett | February 26th, 2009