Natural gas-fired power project in Pa. sold

U.S. US Natural gas well

Panda Power Funds completed the acquisition and financing of Moxie Patriot LLC from a subsidiary of Argan Inc. (NYSE: AGX).

Gemma Power, the Argan subsidiary, has been dunding Moxie Patriot in the development of an 829 MW natural gas-fired power plant in Pennsylvania. Gemma Power Systems was awarded the engineering, procurement and construction (EPC)  agreement to design and build the plant. It is expected to be completed in mid-2015.

Panda Power Funds also acquired the 829 MW Panda Liberty natural gas-fired power plant in Pennsylvania earlier in 2013. A separate joint venture between Gemma Power Systems and The Lane Construction Corp. was awarded the EPC agreement.

Subscribe to Power Engineering magazine

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...