Please ensure Javascript is enabled for purposes of website accessibility

Pentagon Extends 5-Company, $25 Million Green Energy Contract

By Rich Smith - Feb 24, 2014 at 8:14PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

NRG, Chevron, and SunEdison will be able to bid to supply renewable energy to the Navy and USMC.

The Department of Defense named five companies -- two private, three publicly traded -- to participate in a fourth option year extending an indefinite-quantity/indefinite-delivery, firm-fixed-price multiple award contract, and to split $25 million for their work. With this option, the underlying contract will now be worth $200 million, and will remain in force through February 2015.

The contract in question calls for the supply of renewable electrical power through power purchase agreements at Naval and Marine Corps installations in the Naval Facilities Engineering Command (NAVFAC) Southwest area of responsibility (AOR) -- California and Arizona, in particular. The contractors involved will bid on task orders to generate and sell power from renewable power systems that are constructed, owned, operated, and maintained by the contractor on Government property located within the installations to be supplied.

The companies named as winners of this contract include the following publicly traded companies:

  • NRG Energy (NRG -1.31%)
  • Chevron (CVX -0.84%)
  • and SunEdison (SUNEQ)

Also included are privately held Solarstar California XV and SunDurance Energy, LLC.

Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Chevron Corporation Stock Quote
Chevron Corporation
CVX
$157.69 (-0.84%) $-1.33
NRG Energy, Inc. Stock Quote
NRG Energy, Inc.
NRG
$42.95 (-1.31%) $0.57
SunEdison, Inc. Stock Quote
SunEdison, Inc.
SUNEQ

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
397%
 
S&P 500 Returns
128%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 08/19/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.