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Siemens Secures Potential $400M Deal to Help Build Combined Cycle Power Plant

Siemens Secures Potential $400M Deal to Help Build Combined Cycle Power Plant - top government contractors - best government contracting event
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SiemensLogoSiemens AG has secured a potential $400 million deal with a Panda Power Funds affiliate to provide equipment and machines for a Pennsylvania power station meant to supply clean power to one million households.

The contract with a long term service agreement covers orders for gas and steam turbines, generators and other control and electrical system tools for the gas-fired plant, Siemens said Wednesday.

Siemens Financial Services will provide a term loan worth $50 million for construction of the facility that is targeted to begin operation in three years.

“The United States is now the leading purchaser of Siemens’ H-class gas turbines – with almost half of all orders globally,” said Roland Fischer, Siemens Energy“™s fossil power generation division CEO.

Todd Carter, Panda Power Funds president and senior partner, noted Siemens will work to provide solutions that would make the liberty power plant an economical and efficient source of electricity in Pennsylvania.

Siemens says the gas turbines and generators for the project will be fabricated in Charlotte, NC, adding that the latest order puts the company“™s total H-class gas turbine sales at 24.

Gemma Power Systems LLC serves as the engineering, procurement and construction contractor of the Liberty plant, which will be designed to process domestic fuel with an 829-megawatt combined cycle capacity.

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