Siemens joins Panda Power Funds, Bechtel to break ground on natural gas-fueled power plant in northern Virginia

  • Cleaner, efficient power for approximately 778,000 households in Virginia and Washington, DC
  • Turbines and generators manufactured at Siemens Charlotte Energy Hub
  • Sixth project awarded to Siemens by Panda Power Funds
  • Siemens Financial Services helped finance the project with $75 million equity investment 

Category:

Thursday, August 6, 2015 11:35 am EDT

Dateline:

Orlando, FL
"We have a long-standing relationship with the Bechtel-Siemens consortium and they continue to provide value for us as we start to deliver this new generating station to the people of Loudoun County"

Siemens participated today in a groundbreaking ceremony for Panda Power Funds’ Stonewall Power Project – a natural gas-fueled combined cycle power plant (CCPP) in Leesburg, Virginia, that will be capable of meeting the power needs of approximately 778,000 households in Virginia and the District of Columbia. Siemens is supplying the power island equipment for this 778 megawatt plant, while its consortium partner Bechtel will provide project management, engineering, procurement, construction, and startup services. Commissioning of the facility 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 along with the complete electrical system and SPPA-T3000 instrumentation and control system. The gas turbines, steam turbines and generators will be manufactured at Siemens’ Charlotte Energy Hub, the global base for the company’s 60 Hz power generating equipment.

“We have a long-standing relationship with the Bechtel-Siemens consortium and they continue to provide value for us as we start to deliver this new generating station to the people of Loudoun County,” said Todd Carter, president and senior partner of Panda Power Funds. “This advanced facility will provide power for one of the fastest-growing counties in the United States and will also be one of the cleanest power plants in the nation.”

“Siemens is proud to supply our most advanced turbines for this modern combined cycle power plant, which will utilize clean-burning, low-cost natural gas to benefit citizens across the region,” said Barry Nicholls, US lead for Siemens Power and Gas division. “Natural gas is the backbone of America’s new energy model, and this project is a symbol of America’s exciting energy revolution. We are pleased to continue our successful partnership with Panda Power Funds, working once again with Bechtel to deliver a project that represents the future of power generation in the United States.”

Siemens’ efficient technology offers economical power generation with fast start-up for reliable and continuous operation. CCPPs partner a gas-powered turbine with a steam turbine to maximize the use of fuel that is consumed. Exhaust heat from the gas turbine is used to power the steam turbine, greatly improving overall power-plant efficiency.

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.

In 2012, Siemens received the first two orders from Panda Power Funds for the turnkey supply of the Panda Temple I Power Project in Temple, Texas, as well as the Panda Sherman Power Project in Sherman, Texas, also in consortium with Bechtel. In 2013 three more orders followed – the turnkey supply in consortium with Bechtel of Panda Temple II, two integrated thermal  islands with single shaft H-class technology for the Liberty CCPP, and two additional for the Patriot CCPP, both located in Pennsylvania.

 

Contact for journalists

Jeffrey Grappone

Phone: +1 202 368 3854; E-mail: jeffrey.grappone@siemens.com

 

For further information on Division Power and Gas, please see www.siemens.com/about/en/businesses/power-and-gas.htm

For further information on Siemens Combined Cycle Power Plants, please see

http://www.energy.siemens.com/hq/en/fossil-power-generation/power-plants/gas-fired-power-plants/

 

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Siemens Corporation is a U.S. subsidiary of Siemens AG, a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years.  With 343,000 employees in more than 200 countries, Siemens reported worldwide revenue of approximately $98 billion in fiscal 2014. Siemens in the USA reported revenue of $22.2 billion, including $5.2 billion in exports, and employs approximately 50,000 people throughout all 50 states and Puerto Rico.