Panda Power Funds hires Siemens, Bechtel to build 778 MW gas plant in Virginia

Siemens, in consortium with Bechtel, won an order for the turnkey supply for Panda Power Funds’ Stonewall Energy Project in Leesburg, Virginia.

The natural-gas-fired Leesburg combined cycle power plant will have a gross installed electrical capacity of 778 MW. Once built, it can supply the power for up to 778,000 households in Virginia. Commissioning of the power plant is scheduled for spring 2017.

For the Panda Stonewall CCPP, Siemens will deliver the power island equipment, including two SGT6-5000F gas turbines, one SST6-5000 steam turbine with an SCon-4000 condenser, two SGen6-1000A generators, one SGen6-2000H generator and two NEM duct-fired heat recovery steam generators. Bechtel will be responsible for the engineering and procurement for the balance of the plant, and the installation, construction and commissioning of the facility.

The gas turbines, steam turbines and generators will be manufactured at the Siemens factory in Charlotte, North Carolina, which is the main production facility for Siemens 60 Hz power generation.

To secure funds for the project, a finance package utilizing senior debt, mezzanine debt and equity has been obtained to cover the total project costs. In support of this package, the Financial Services Division of Siemens is also making a $75 million equity investment.

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