A Chinese firm plans to create the world's biggest ocean thermal electric plant, and has enlisted the engineering expertise of one of America's biggest defence contractors to fulfill this ambition.

The Beijing-based Reignwood Group has inked a contract with Lockheed Martin for the design of the world’s largest power plant, which will generate electricity via a process known as ocean thermal energy conversion (OTEC). Reignwood, a Chinese firm specializing in consumer and lifestyle products, hopes to use the proposed 10…