Panda Power Funds buys 750 MW Virginia power plant

Panda Power Funds bought a majority interest in a planned 750-MW combined-cycle power plant located in an industrial-zoned area of Loudoun County, Virginia.

When commissioned, the natural gas-fueled “Stonewall” generating station will be able to supply the power needs of about 750,000 homes in the Northern Virginia/Washington D.C. metropolitan area. Panda expects the facility to enter commercial operations during the spring of 2017.

Panda Power Funds’ partners in the Stonewall project include Bechtel Development, a subsidiary of the Bechtel Corp., and Green Energy Partners/Stonewall, the project’s original developer.

The Stonewall facility will use the latest, most advanced emissions-control technology, making it one of the cleanest, most efficient natural gas-fueled power plants in the nation. The power generating station will exclusively use pipeline quality natural gas to minimize particulate matter and air emissions.

The power plant has been designed in anticipation of greenhouse gas regulations and will easily meet the new carbon emissions standards recently proposed by the U.S. EPA, according to the company. The project received its air permit from the Virginia Department of Environmental Quality in April of 2013.

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