The 778 MW Stonewall Power Project, Panda Power Funds’ newest combined-cycle gas power plant in Leesburg, Virginia has started full commercial operation. ‘Stonewall’ is one of seven CCPPs, next to similar plants in Texas, Pennsylvania and Virginia with a combined capacity of 5.8 GW that were built on a turnkey basis by Siemens with its consortium partner Bechtel.
“We are very pleased with the way the plant is performing so soon after startup. Initial tests show Stonewall is already exceeding guarantees for both power output and efficiency,” commented Todd W. Carter, CEO and senior partner of Panda Power Fund.
John Gibson, Siemens’ head of sales North America pointed out that the Stonewall projects “continues our successful partnership with Panda Power Funds. Working once again with Bechtel, we’ve delivered a turnkey power plant that adds a significant source of efficient and reliable power to the grid.”
For the Stonewall CCPP, Siemens delivered the power island equipment, including two SGT6-5000F gas turbines, one SST6-5000 steam turbine with an SCon-4000 condenser, two SGen6-1000A generators, one SGen6-2000H generator and two NEM duct-fired heat recovery steam generators along with the complete electrical system and SPPA-T3000 instrumentation and control system.
All components were manufactured at Siemens’ Charlotte Energy Hub, the global base for the company’s 60 Hz power generating equipment.
Funding for the total project costs was secured through a financing package utilizing senior debt, mezzanine debt and equity. In support of this package, Siemens’ Financial Services Division made a $75 million equity investment.