Plant will add needed capacity to Maryland; power up to 859,000 homes ---- Will be one of the cleanest, most efficient power plants in the nation and feature a low-profile design to minimize sightlines ---- Plant expected to contribute up to $1.2 billion to area economy; create 700-800 construction jobs
DALLAS - August 19, 2013 - Panda Power Funds today announced that it intends
industrial-zoned area of Brandywine, Maryland. Once complete, the natural
gas-fueled generating station will be able to supply the power needs of
approximately 859,000 homes in the Greater Maryland / Washington D.C.
metropolitan area. The facility is expected to contribute approximately $1.2
billion to the area's economy during construction and the plant's first 10
years of operation.
The state-of-the-art Panda Mattawoman plant will utilize the latest, most
advanced emissions-control technology, making it one of the cleanest, most
efficient natural gas-fueled power plants in the nation.
"Maryland state officials are clearly looking toward the needs of tomorrow,
and we look forward to working with them to enhance the future reliability
of the region's power supply," said Todd W. Carter, president and senior
partner of Panda Power Funds. "We also look forward to continuing our
relationship with the local community and helping ensure that the Mattawoman
generating station is a positive for everyone concerned."
"We're very excited about this project," said Gwen S. McCall, president and
chief executive officer of the Prince George's County Economic Development
Corporation. "This power plant will have a significant impact on our
region's economy for years to come. It will expand the tax base, enlarge
payrolls and drive revenues for contractors, suppliers, engineering firms,
hotels, restaurants, retailers and a host of other businesses. The plant
will create an estimated 700-800 union construction jobs, 25 direct jobs to
run the facility and 32 indirect jobs to support it. This is great for
M.H. Jim Estepp, president and chief executive officer of the Greater Prince
George's Business Roundtable said Panda representatives have continuously
reached out to community leaders since the beginning of the site selection
process. "They've done an especially good job of listening to the people of
Prince George's and Charles' Counties and incorporating what they've learned
into the design of their plant."
Panda has taken great care to minimize impacts to the local community. The
plant will be located in an existing "I-2" heavy industrial zone, not a
rural tier, in order to preserve home values. To reduce sightlines, the
facility has been designed with one of the lowest profiles of any power
plant in the United States. By comparison, the plant will be 26 feet lower
than a nearby weather radar. The plant will have a setback of approximately
565 yards from the nearest road, will be heavily buffered by trees and
further shielded from view with berms and landscaping.
The Mattawoman plant will also be a "zero-liquid-discharge" plant, returning
no waste water to a treatment facility and subsequently preventing the
discharge of harmful nutrients into the Chesapeake Bay. In addition, potable
water will not be used in the operation of the plant. The generating station
will instead use recycled municipal waste water for cooling purposes in
order to help conserve the state's natural supply of drinking water.
The Panda Mattawoman plant will be located between Air Force road and the
CSX rail line off Brandywine Road. Construction of the Mattawoman project
will take approximately 30 months and is dependent upon financing,
regulatory approvals and other conditions.
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 internally source and develop,
acquire, invest in, and operate large-scale, natural gas-fueled power
generation facilities. The firm has a combined-cycle power plant being built
in two phases in Temple, Texas totaling 1,516 megawatts and a 758 megawatt
combined-cycle power plant under construction in Sherman, Texas. The company
recently built a utility-scale, 20-megawatt solar farm in Pilesgrove, New
Jersey - one of the largest solar farms in the northeast United States.
Additional information on Panda Power Funds can be found at