Elizabeth Leigh
Bechtel and Siemens will soon start construction on a natural gas power plant in Loudoun County, Virginia, after securing funds for the facility through Panda Power Funds.
Bechtel will provide engineering and procurement services and installation, construction and commissioning procedures for the Panda Stonewall facility, while Siemens will supply the natural gas and steam turbines, the generators, instrumentation and controls systems.
The 778 MW power project, situated in the Dulles Technology Corridor region, has an estimated completion date of within two-and-a-half-years and will service up to 778,000 residences in D.C. and Northern Virginia, Panda said Monday.
Panda said the Stonewall facility will be made of the latest in emissions control technology built to reduce waste and conserve the resources of the county and the commonwealth.
It also indicated that the plant will generate 600 jobs for Loudoun through the heavy phase of the construction period, and 30 for long-term employment once commissioned.
Panda secured a debt capital of $571 million for the plant, with Goldman Sachs and Credit Suisse among the lead arrangers.
