The Federal Energy Regulatory Commission on July 16 accepted a June 2 filing from Panda Liberty LLC, developer of a big power project in Pennsylvania, of an application for market-based rate authority with an accompanying tariff.
The proposed market-based rate tariff provides for the sale of energy, capacity, and ancillary services at market-based rates. Panda Liberty also requested waivers commonly granted to similar market-based rate applicants.
Panda Liberty will own and operate a 765-MW (summer rating) natural gas-fired facility located in Bradford County, Pennsylvania, within the PJM Interconnection market. The Panda Liberty Facility is expected to be capable of generating electricity on or around Aug. 1, 2015.
Panda Liberty is an indirect, wholly-owned subsidiary of Panda Liberty Intermediate Holdings I LLC which, in turn, is owned by Panda Liberty Super Holdings LLC and a passive investor. Panda Liberty Super Holdings is a direct, wholly-owned subsidiary of Panda Liberty Holdings LLC, which is owned by various Panda Power Funds entities.
An affiliate of Panda Liberty has a 50% ownership interest in a 17.7-MW solar power plant in Pilesgrove Township, New Jersey, also located within PJM (the “Pilesgrove Facility”). The output of the Pilesgrove Facility is committed under a long-term contract to Consolidated Edison Energy.
Affiliates of Panda Liberty are also developing two other generating facilities in PJM:
- the 829-MW natural gas-fired Panda Patriot Power Project located in Lycoming County, Pennsylvania, which is expected to commence commercial operations in 2016; and
- the 750-MW natural gas-fired Panda Stonewall Power Project located near Leesburg, Virginia, which is also expected to commence commercial operations in 2016.
A company contact is: Blake M. Jones, Panda Power Funds, Associate General Counsel & Senior Compliance Officer, 5001 Spring Valley Road, Suite 1150 West, Dallas, TX 75244, Telephone: (972) 361-1463.