Pentagon Awards $7 Billion in Green Energy Contracts

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 (NYSEMKT: CEP  ) Constellation NewEnergy subsidiary Privately held ECC Renewables LLC Enel Green Power North America, a subsidiary of Italy's Enel SpA LTC Federal LLC Siemens' (NYSE: SI  ) 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.

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