Siemens Receives Further Contract for High-Efficiency Power Plant in the United States

  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.

Business Wire

ERLANGEN, Germany -- April 04, 2013

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

http://www.siemens.com/press/pi/EFP201304026e

For further information on Siemens Flex-Plant technology, please see

http://www.energy.siemens.com/hq/en/fossil-power-generation/power-plants/gas-fired-power-plants/combined-cycle-power-plant-concept/scc6-5000f-2x1-flex-plant-30.htm

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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

breakingnews@pandafunds.com

Contact:

Siemens AG, Media Relations
Christian Stuart Wilson, +49 9131 18-4974
christian_stuart.wilson@siemens.com