FREDERICK, Maryland - September 6, 2012
Bechtel Celebrates Groundbreaking for Panda Temple Power Plant
Texas Project Anticipated to be One of Most Efficient Natural Gas-Fueled Plants in U.S.
Bechtel, along with representatives from Panda Temple Power, LLC, an affiliate of Panda Power Funds, Siemens, and federal, state, and local dignitaries today celebrated the groundbreaking of the Panda Temple Project. The power plant, located in Temple, Texas, will be one of the cleanest natural gas-fueled, combined-cycle power plants in the United States. Bechtel and Siemens have formed a consortium to design and build the new combined-cycle power plant, which will generate 758 megawatts of electricity and power approximately 750,000 homes.
Engineering, procurement, and manufacturing activities are already underway, and construction has begun. Workers and suppliers, many from Texas, are currently providing surveying and concrete pumping services, building fencing, and completing earthwork. The project is expected to support up to 800 workers at peak construction.
“Bechtel is one of the largest employers of craft construction professionals in Texas and has hired more than 32,000 workers in the last 15 years,” said Jeff Brightman, president of Bechtel’s fossil business line. “We look forward to continuing our work in Texas putting skilled craft to work to complete this important project.”
The state-of-the-art facility will use the most advanced emissions-control technology, making it one of the cleanest, most efficient natural gas-fueled power plants in the nation. Commercial operations of the plant are expected to begin in 2014.
With more than 60 years of global experience in the power industry, Bechtel has successfully completed combined-cycle projects in the United States, United Kingdom, Egypt, India, Turkey, and Mexico.
About Panda Power Funds, LP
Founded in 2010, Panda Power Funds has the ability to internally source and develop, acquire, invest in, and operate large-scale, natural gas-fueled power generation facilities. The company recently built a utility-scale, 20-megawatt solar farm in Pilesgrove, New Jersey — one of the largest solar farms in the northeast United States. The private equity firm is headquartered in Dallas, Texas. Additional information on Panda Power Funds can be found at www.pandafunds.com.