Northrop Grumman Corporation has signed a sponsored research agreement with the California Institute of Technology (Caltech) for the development of the Space Solar Power Initiative (SSPI).  Under the terms of the agreement, Northrop Grumman will provide up to $17.5 million to the initiative over three years. The team will develop the scientific and technological innovations necessary to enable a space-based solar power system capable of generating electric power at cost parity with grid-connected fossil fuel power plants.

Read the press release here.