774-MW Panda Stonewall plant in Virginia due for commercial ops on Dec. 2 of this year

Panda Stonewall LLC, which has a nearly-completed power project in Virginia, on Sept. 22 applied with the Federal Energy Regulatory Commission for various approvals, including acceptance of its Electric Tariff and authorization to make wholesale sales of electric energy, capacity, and ancillary services at market-based rates.

Panda Stonewall is developing, and will own and operate, a natural gas-fired facility located in Leesburg, Loudoun County, Virginia, within the PJM Interconnection balancing authority area (BAA). The Panda Stonewall Facility will have a summer rating capacity of 774 MW (778 MW nameplate) and is expected to achieve commercial operation on or around Dec. 2, 2016. The Panda Stonewall Facility will interconnect to the Dominion Virginia Power transmission system, which is under the operational control of PJM. Panda Stonewall is an Exempt Wholesale Generator.

Panda Stonewall is a direct, wholly-owned subsidiary of Panda Stonewall Intermediate Holdings III LLC, which is a direct, wholly-owned subsidiary of Panda Stonewall Intermediate Holdings II LLC, which is a direct, wholly-owned subsidiary of Panda Stonewall Intermediate Holdings IA LLC, which is a direct, wholly-owned subsidiary of Panda Stonewall Intermediate Holdings I LLC, which is owned by Panda Stonewall Super Holdings LLC and Siemens Financial Services (SFS).

Panda Stonewall Super Holdings is a direct, wholly-owned subsidiary of Panda Stonewall Holdings LLC (Holdings). Holdings is owned; indirectly by Panda Power Generation Infrastructure Fund A LP (Fund A) and directly by Panda Power Generation Infrastructure Fund B (AIV) LP (“Fund B”); indirectly by Panda Power Fund II A LP (Fund II A) and directly by Panda Power Fund II B LP (Fund II B); and directly by an investor holding a less than 10% voting interest in Holdings. The Managing Member of Holdings is Panda Power Fund II GP LP (Fund II GP).

Each of Fund A and Fund B is owned by Panda Power Generation Infrastructure Fund GP LP (Fund I GP), as general partner, and various passive limited partners. The general partner of Fund I GP is Panda Power Generation Infrastructure Fund GP LLC, which is owned by the following five individuals either directly or indirectly through their personal investment vehicles: Robert Carter, Todd Carter, Ralph Killian, William Nordlund and Robert Simmons. Each of Fund II A and Fund II B is owned by Fund II GP, as general partner, and various passive limited partners.

The general partner of Fund II GP is Panda Power Fund II GP LLC, which is owned by the following five individuals, either directly or indirectly through their personal investment vehicles: Robert Carter, Todd Carter, Ralph Killian, William Nordlund and Robert Simmons.

Affiliates of Panda Stonewall are developing or have developed other generating facilities in PJM.

  • Panda Liberty LLC and Panda Patriot LLC each own a 765-MW natural gas-fired project in Pennsylvania, each of which recently began generating electricity in PJM.
  • Another affiliate is developing the Hummel Station, a natural gas-fired combined cycle plant (nominal capacity of 1,024 MW) at the site of the shut, coal-fired Sunbury Generating Station in Shamokin Dam, Pennsylvania, within PJM. The Hummel Station is targeted for commercial operation in the spring of 2018.
  • Another affiliate is developing the Mattawoman Energy project in Maryland, a natural gas-fired combined cycle plant slated for commercial operation in the spring of 2019.
  • Finally, affiliates of Panda Stonewall own and operate the 758-MW natural gas-fired Panda Sherman Project, the 758-MW natural gas-fired Panda Temple Project, and the 758-MW natural gas-fired Panda Temple II Project, each of which is interconnected to the transmission system administered by the Electric Reliability Council of Texas (ERCOT).
About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.