Dallas-based private equity firm, Panda Power Funds, has announced its plans to build, own and operate a 859MW natural gas-fired combined-cycle power plant (CCPP) project in Maryland.
Located between Air Force road and the CSX rail line off Brandywine road, the natural gas-fuelled generating station will be able to supply electricity to 859,000 homes in the Greater Maryland / Washington DC metropolitan area.
The Mattawoman plant, which will have advanced emissions-control technology and will be a 'zero-liquid-discharge' plant, will use recycled municipal waste water for cooling purposes.
Panda Power said the plant is anticipated to contribute approximately $1.2bn to the area's economy during construction and its first ten years of operation.
The plant is also expected to provide around 700-800 jobs during the construction phase, 25 direct jobs for running the facility and 32 indirect jobs for supporting the project.
The project will be completed in approximately 30 months, subject to financing, regulatory approvals and other conditions.
Panda Power Funds president and senior partner Todd W. Carter said: "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.
"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."
According to the company, the facility will return no waste water to a treatment facility and prevent the discharge of harmful nutrients into the Chesapeake Bay.
The facility will be 26ft lower than the nearby weather radar and will have a setback of around 565 yards from the nearest road.
Panda Power has a combined-cycle power plant being built in two phases in Temple, Texas totalling 1,516MW, and a 758MW combined-cycle power plant under construction in Sherman, Texas.
Image: The 859MW Panda Mattawoman Generating Station. Photo: courtesy of Panda Power Funds.