Siemens receives further order for high-efficiency power plant in the United States

ORLANDO, Fla., Sept. 18, 2012 /PRNewswire/ -- Just two months after the contract was signed with the private equity firm Panda Power Funds for the turnkey supply of a natural-gas-fired combined-cycle power plant in Temple, Texas, Siemens has been awarded a second order by the same customer for an identical project in the city of Sherman. Siemens will supply the plant in consortium with its partner Bechtel. The order volume including a long-term service agreement is approximately USD300 million. The power station with a gross installed electrical capacity of 758 megawatts (MW) will be able to supply the power needs of approximately 750,000 homes in the North Texas area.

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Siemens will deliver the power island equipment, including two gas turbines, one steam turbine, three generators and the instrumentation and control system. A long-term service agreement has also been signed for the main generation components. 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 gas turbines, steam turbine and generators will be manufactured in the Siemens factory in Charlotte, North Carolina.

The new Sherman generating station will be among the cleanest fossil-fueled plants in the United States. The Siemens Flex-Plant™ 30 technology offers high efficiency and operational flexibility with low emissions. Power generation can commence within ten minutes of startup, and full base-load power production in less than one hour, allowing rapid response to changing market conditions and enabling the smooth integration of renewable energy sources in the power grid.

Highly efficient and flexible combined-cycle power plants (CCPP) are part of Siemens' Environmental Portfolio. In fiscal year 2011, revenue from the Portfolio totaled about €30 billion, making Siemens one of the world's largest suppliers of eco-friendly technologies. In the same period, our products and solutions enabled customers to reduce their carbon dioxide (CO₂) emissions by nearly 320 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 complete 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 2011 (ended September 30), the Energy Sector had revenues of EUR24.9 billion and received new orders totaling approximately EUR31.8 billion and posted a profit of EUR3.9 billion. On October 1, 2011, the Energy Sector had a work force of more than 82,000. Further information is available at: www.siemens.com/energy.

About Panda Power Funds, LP

Founded in 2010, Panda Power Funds is a private equity firm located 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 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.

SOURCE Siemens Energy