the_newsbeagle writes "When you've got a wacky high-tech idea that will cost a lot of money, head to China. Lockheed Martin is the latest company to heed this advice. For decades, Lockheed has investigated ocean thermal energy conversion, in which the temperature difference between warm surface water and cold deep water is leveraged to produce power. Just a few years ago, the company was working with the Navy and discussing a possible OTEC pilot project in Hawaii's Pearl Harbor. That idea has since been scrapped, and Lockheed is now partnering with a Chinese resort developer to build the 10-MW pilot plant off the coast of southern China. Lockheed hasn't disclosed the cost of building this plant, but outside experts say it might cost more than $300 million."