Panda to construct power plant in Illinois

Panda Energy International announced plans to construct a $ 350 mm merchant electric power plant approximately three miles north-west of Mount Vernon in Jefferson County, Illinois. The facility is 72 miles east of St. Louis and 57 miles west of Evansville, Indiana.
Construction is expected to begin on the 1,070-MW natural gas-fired, combined cycle facility during the first quarter of 2002. When completed in late 2003, it will allow Panda to sell power in the wholesale electric market through an interconnection with the West Mount Vernon substation.
Garry Hubbard, Panda senior vice president, said approximately 500 jobs and an estimated payroll of $ 50 mm will be created during an 18-month construction period. Once the plant is operational, 46 full-time jobs will open with an annual payroll of $ 2 mm to $ 3 mm. In addition, 100 off-site support jobs will be created.

The plant will add several million dollars in taxes to the community and will make $ 3 mm to $ 5 mm in local purchases each year it is in operation, Hubbard said. Up to 9.5 mm gallons of water a day will be purchased from the City of Mt. Vernon through the Rend Lake Conservancy District.
Project Director Rhett Hurless said the plant will be equipped with General Electric's advanced Dry Low NOx (DLN) combustion systems for optimum emissions control. Gov. George Ryan commended Panda Energy's decision to build the facility in Mount Vernon noting as more businesses locate and expand in Illinois, there is an increased demand for energy.
"I welcome Panda Energy's contribution to our state's growth and development," Ryan said. "In addition, this plant will provide a much needed tax base that will help improve facilities for the local school district."

Panda Energy is a privately held, non-regulated electric generation company whose primary focus is the development, ownership and operation of clean, low-cost power plants. Including the Illinois project, Panda currently has 12,000-MW of power under development in Florida, West Virginia, Pennsylvania, Arkansas, Arizona, Missouri and Michigan.
Construction is under way on two 1,000-MW facilities in Marion and Odessa, Texas in partnership with PSEG Global. Panda is a partner in a 1,000- MW t facility in operation in Paris, Texas. Additionally, Panda, in alliance with Calpine, has a 1,000-MW facility under construction in Oklahoma. The company also owns and operates plants in Roanoke Rapids, NC, Brandywine, MD, China and Nepal.