After a slow start to the week Monday, the Department of Defense kicked its contracts-awarding machine into high gear Tuesday. In the space of 16 short contracts, the Pentagon doled out more than $8.3 billion in new contracts in a single day.
The bulk of these awards came in the form of a single multiple-award, task-order contract to be shared among several energy companies:
Constellation Energy Partners LLC's Constellation NewEnergy subsidiary
Privately held ECC Renewables LLC
Enel Green Power North America, a subsidiary of Italy's Enel SpA
LTC Federal LLC
Siemens' Government Technologies unit
These five firms are now authorized to bid for individual task orders under an umbrella contract for the procurement of renewable and alternative energy from facilities that are designed, financed, constructed, operated and maintained by private companies on private land under the jurisdiction of the Department of Defense. The ceiling value on this contract is $7 billion, thus accounting for 84% of the value of all Pentagon contracts awarded yesterday.
The article Pentagon Awards $7 Billion in Green Energy Contracts originally appeared on Fool.com.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.