829 MW facility is the second of two new power plants developed to take advantage of the Marcellus Shale gas formation
MONTGOMERY, PA, August 12, 2014 – Gemma Power Systems, LLC (GPS), together with representatives of Panda Power Funds, Siemens Energy, Inc. and local and state officials today celebrated the groundbreaking of the Patriot Generating Station. The power plant, being constructed here, is an 829 MW natural gas-fired combined cycle facility that will provide clean, reliable electric power to nearly a million homes. The plant is one of two generating stations specifically developed for this area to take advantage of the Marcellus Shale natural gas formation. The first plant, Panda’s Liberty Generating Station, is under construction in Towanda, PA, and is also an 829 MW natural gas-fired combined cycle facility. The Liberty plant is approximately 45 percent complete.
Gemma Power Systems, LLC through a joint venture with The Lane Construction Corporation, is the Engineering-Procurement-Construction (EPC) contractor for the project.
“On behalf of Gemma Power Systems’ employees, partners and suppliers, we congratulate Panda Power Funds on breaking ground on yet another state-of-the-art power generation facility,” said William F. Griffin, Jr., GPS Chief Executive Officer.
“We look forward to working closely with all of our stakeholders here in the Commonwealth to develop enduring relationships and deliver a world class project experience for everyone,” Griffin said.
Engineering, procurement and initial construction activities are well underway using many local suppliers and skilled craft workers. Up to 500 skilled craft workers will be employed on-site at the peak of construction. The plant is scheduled to be completed in the Spring of 2016.
The Siemens “H-Class” gas turbines selected for the Liberty and Patriot projects are the world’s first power generation technology to achieve thermal efficiencies of 60 percent in combined cycle operation. The single-shaft power train design will make the Patriot facility among the cleanest, most efficient natural gas-fired generating plants in the United States. The plant also uses air cooled condensers and a packaged water and wastewater treatment system to reduce water consumption and minimize waste water discharge. Power Burns and Roe, headquartered in Oradell, NJ, is providing detailed engineering and design services for the project.
About Gemma Power Systems, LLC:
Gemma Power Systems, a wholly owned subsidiary of Argan Inc. (NYSE: AGX), is a leading Engineering, Procurement and Construction (EPC) company providing innovative solutions for the power and renewable energy industry. Our wide-ranging and comprehensive experience includes 11,000 MW of installed capacity including combined cycle and simple cycle gas turbine generating plants, biomass, solar facilities, wind farms, biofuel plants and environmental facilities. Additional information about Gemma Power Systems can be found at www.gemmapower.com.
About Panda Power Funds LP:
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.
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