Elected Officials to Join Panda Power Funds for Groundbreaking of 829 MW Marcellus Shale-Gas Power Plant

The Patriot Energy Center is only the second power plant in Pennsylvania, after Panda’s Liberty Energy Center, specifically developed to take advantage of its proximity to the Marcellus Shale gas formation

--()--(Alert is for planning purposes only — not for republication to the general public)

WHAT: Groundbreaking ceremony in Montgomery, PA. The generating station will:

  • Power up to 1,000,000 homes
  • Contribute approximately $6 billion to the Pennsylvania economy
  • Create approximately 500 construction jobs; 27 high-paying direct jobs to operate the plant and 45 indirect jobs to support the plant
  • Utilize the latest, most advanced emissions-control technology, making it one of the cleanest natural gas-fueled power plants in the United States
  • Be cooled with air rather than water — not discharging water into the Western Branch of the Susquehanna River — eliminating potential impacts to sensitive species in the Susquehanna watershed
  • Use Siemens H-class gas turbines — the world’s first generation technology to achieve operating efficiencies of 60 percent.
  • Begin commercial operation by mid-2016.

WHO: Speakers will include:

  • Gene Yaw, Senator for Pennsylvania’s Twenty-Third District
  • Garth Everett, State Representative for Pennsylvania’s Eighty-Fourth District
  • Dr. Davie Gilmour, President of the Pennsylvania College of Technology
  • Gregory Snyder, Vice President, Region Executive, Central, U.S., Siemens Energy Inc.
  • William (Bill) F. Griffin, Jr., chief executive officer, Gemma Power Systems
  • Todd W. Carter, president and senior partner, Panda Power Funds

Speakers will be available for interviews immediately following the ceremony

WHEN:

  Tuesday, August 12, 2014
10:30 a.m. ET
 

WHERE:

50 Patriot Lane
Montgomery, PA 17752
(Mapping Address: 1200 Saegers Station Road, Montgomery, PA 17752)
 

RSVP:

groundbreakingPatriotpa@pandafunds.com

(RSVP as a member of the media)

ADDITIONAL INFORMATION:

  • All event activities will be sheltered from the weather
  • Luncheon will immediately follow the groundbreaking ceremony
  • Reporters and crew are invited to attend luncheon or have their lunch boxed to go
  • Broadcast media will have access to a mult box to patch into the audio system
  • Journalists will receive press kits on both paper and on a USB drive containing high-definition photos, corporate logos and rendering of the 829 MW power plant

ABOUT PANDA POWER FUNDS:

Founded in 2010, Panda Power Funds is a private equity firm headquartered in Dallas, Texas, which has the ability to develop, acquire, construct, finance and operate large-scale, natural gas-fueled power generation facilities. Panda has five combined-cycle power plants currently under construction in Texas and Pennsylvania with a total capacity of nearly 4,000 megawatts and has announced a 778-MW combined-cycle power plant in Northern Virginia and an 859-MW power facility in Southern Maryland. The fund built a 20-megawatt solar farm in Southwest New Jersey that is one of the largest solar facilities in the Northeast United States. Additional information on Panda Power Funds can be found at www.pandafunds.com.

Contacts

Panda Power Funds
Bill Pentak, 972-361-2000
breakingnews@pandafunds.com

The 829-MW "Patriot" Generating Station (Lycoming County, Pa.) (Graphic: Business Wire)

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Release Summary

Elected Officials to Join Panda Power Funds for Groundbreaking of 829 MW Marcellus Shale-Gas Power Plant

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Contacts

Panda Power Funds
Bill Pentak, 972-361-2000
breakingnews@pandafunds.com