Siemens Receives $400 Million Order for Advanced Power Plant in the USA *Two power plant blocks with a total power rating of approximately 829 megawatts *Clean power generation for up to one million homes with domestic fuel *A total of 24 highly efficient H-class gas turbines now sold worldwide Business Wire WASHINGTON -- August 22, 2013 Siemens has received an order from the U.S. for the delivery of two power plant blocks for the Liberty combined cycle power plant in Pennsylvania. Siemens will deliver two H-class gas turbines, two steam turbines, two generators, two heat recovery steam generators as well as the electrical equipment and the control system. The EPC contractor is Gemma Power Systems LLC, a leading Engineering, Procurement, and Construction contractor in the U.S. The customer is an affiliate of Panda Power Funds. The order includes a long-term service agreement and has a total value for Siemens of approximately $400 million. With a combined cycle output of approximately 829 megawatts, Liberty will be one of the most advanced gas-fired power plants in the northeastern U.S. when it goes into commercial operation in 2016 and will be able to supply up to one million homes with clean power generated using domestic fuel. This order brings the total number of H-class gas turbines that Siemens has sold worldwide up to 24. “The United States is now the leading purchaser of Siemens’ H-class gas turbines – with almost half of all orders globally. This demonstrates how truly dynamic the market for gas-fired power plants is,” said Roland Fischer, CEO of the Fossil Power Generation Division at Siemens Energy. “Siemens continues to provide us with precise solutions for our power generation projects. This power plant offers world-class performance and reliability. Due to its high efficiency, it will also be very economical to operate. These are critical features as we provide electricity for Pennsylvanians for decades to come,” affirmed Todd W. Carter, president and senior partner of Panda Power Funds. The gas turbines and generators will be manufactured in the Siemens North American manufacturing hub in Charlotte, North Carolina. Siemens Financial Services is providing financing to aid in the project’s construction through a $50 million term loan. Highly efficient 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. 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 develop, acquire, construct, finance and operate large-scale, natural gas-fueled power generation facilities. Panda’s first fund invested in three combined-cycle power plants currently under construction in Temple and Sherman, Texas (totaling 2,274 megawatts) and a 20-megawatt solar project in operation in Pilesgrove, New Jersey. Additional information on Panda Power Funds can be found at www.pandafunds.com. Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130822005693/en/ Multimedia Available:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50695664&lang=en Contact: Siemens AG, Media Relations: Claire Hassett, 202-730-1012 firstname.lastname@example.org Follow us on Twitter at: www.twitter.com/siemens_press or Panda Power Funds Media: Bill Pentak, 972-361-2000 email@example.com
Siemens Receives $400 Million Order for Advanced Power Plant in the USA
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