Bechtel Awarded EPC Contract for New Power Plant in Texas

18 September 2012 FREDERICK, Maryland

Bechtel and Siemens to Design and Build Combined-Cycle Facility

Bechtel announced today the company was awarded the engineering, procurement, and construction contract to build a natural gas-fueled, combined-cycle power plant for Panda Sherman Power, LLC, an affiliate of Panda Power Funds. Bechtel and Siemens formed a consortium to design and build the 758-megawatt facility in Sherman, Texas, north of Dallas. This is the second project Bechtel and Siemens are building for Panda Power Funds. The consortium is also designing and building  the Panda Temple Generating Station, another 758-megawatt natural gas-fueled combined-cycle plant in Texas.

Bechtel will be responsible for the engineering, procurement, construction, and commissioning of the facility. Siemens will provide the power-island package including the natural gas and steam turbines and waste heat recovery boilers. 

“This will be a state-of-the-art facility that will put people to work and bring much needed power to the state of Texas,” said Jeff Brightman, president of Bechtel’s fossil power business.  “As one of the largest employers of craft construction professionals in the state, we will hire local workers and suppliers, and make a positive impact in the community for decades to come.”

The Panda Sherman Power Project will be supported by 700-800 jobs. The facility will be one of the most efficient natural gas-fueled power plants in the United States and will provide clean energy to approximately 750,000 homes in Texas. Construction will start on the 204-acre site immediately, and commercial operations 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 is a private equity firm located in Dallas, Texas, which 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. Additional information on Panda Power Funds can be found at www.pandafunds.com.
 

About Bechtel

Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers’ objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.  

Bechtel serves the Infrastructure; Nuclear, Security & Environmental; Oil, Gas & Chemicals; and Mining & Metals markets. Our services span from initial planning and investment, through start-up and operations. www.bechtel.com

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