Siemens Receives Further Contract for High-Efficiency Power Plant in the United States
• Third order for Flex-Plant™ Technology from Panda Power Funds
• Panda Temple II will be among the cleanest fossil-fueled plants in the U.S.A.
ERLANGEN, Germany--(BUSINESS WIRE)-- Siemens has been awarded an order for the turnkey supply of the Panda Temple II power plant in Temple, Texas. Following the Temple I and Sherman Power Projects, this is the third order awarded to Siemens by the private equity firm Panda Power Funds within less than a year. Siemens will supply the natural-gas-fired combined-cycle power plant in consortium with its partner, Bechtel. The plant, with a gross installed electrical capacity of 758 megawatts, will be among the cleanest fossil-fueled power stations in the U.S.A. Once completed by the end of 2015, it will be able to supply the power needs of approximately 750,000 homes in the Central Texas area. The order volume including a long-term service agreement is approximately USD300 million.
Siemens will deliver the engineered power island, including two gas turbines, one steam turbine, three generators, the instrumentation and control system and two heat recovery steam generators. Bechtel will be responsible for the engineering and procurement for the balance of the plant, and the installation, construction and commissioning of the facility.
The power station will be a Siemens Flex-Plant™ 30, which offers particularly high efficiency and operational flexibility. Power generation can commence within ten minutes of startup, and full base-load power production in less than one hour. Siemens´ highly efficient and environmentally sound technology will reduce emissions, allow rapid response to changing market conditions, and enable added investment in intermittent renewable and zero-carbon resources.
The gas turbines, steam turbine and generators will be manufactured in the Siemens factory in Charlotte, North Carolina.
High efficiency combined cycle power plants are part of Siemens' Environmental Portfolio. In fiscal 2012, revenue from the Portfolio totaled about €33 billion, making Siemens one of the world's largest suppliers of ecofriendly technologies. In the same period, our products and solutions enabled customers to reduce their carbon dioxide (CO2) emissions by more than 330 million tons, an amount equal to the total annual CO2 emissions of Berlin, Delhi, Hong Kong, Istanbul, London, New York, Singapore and Tokyo.
This press release can be found at
For further information on Siemens Flex-Plant technology, please see
Follow us on Twitter at: www.twitter.com/siemens_press
The Siemens Energy Sector is the world's leading supplier of a broad spectrum of products, services and solutions for power generation in thermal power plants and using renewables, power transmission in grids and for the extraction, processing and transport of oil and gas. In fiscal 2012 (ended September 30), the Energy Sector had revenues of EUR27.5 billion and received new orders totaling approximately EUR26.9 billion and posted a profit of EUR2.2 billion. On September 30, 2012, the Energy Sector had a work force of almost 86,000. Further information is available at: www.siemens.com/energy.
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 www.pandafunds.com.
Panda Power Funds Media Contact:
Bill Pentak, (972) 361-2000
Siemens AG, Media Relations
Christian Stuart Wilson, +49 9131 18-4974
KEYWORDS: United States Europe North America Germany Texas
The article Siemens Receives Further Contract for High-Efficiency Power Plant in the United States originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.