Thursday, May 15, 2014

Ground is Broken for Liberty Gas Plant

by John Jordan,
Officials with Dallas, TX-basedPanda Power Funds were joined by Pennsylvania Gov. Tom Corbett for the groundbreaking of the Liberty 829-megawatt Marcellus Shale gas power plant here today.
The plant is expected to contribute slightly less than $6 billion to the area’s economy during construction and its first 10 years of operation and will create 500 jobs during the development of the plant. During operations, the generating station will create an estimated 27 skilled jobs to operate the facility and 45 indirect jobs within the community to support the plant.
Panda Power officials report the Liberty project is the first power plant deliberately sited in the heart of the Marcellus Shale region to take advantage of low natural gas prices and transportation costs. Panda expects commercial operations at the plant will begin by early 2016.
“By growing Pennsylvania’s world-class energy industry in a safe and responsible way, we are building a stronger Pennsylvania,” says Gov. Corbett. “As our economy continues to grow, companies like Panda Power Funds are investing in our commonwealth and are creating hundreds of family-sustaining jobs.”
“We are investing hundreds of millions of dollars here precisely because Governor Corbett and other Commonwealth officials have been far sighted in developing Pennsylvania’s abundant natural resources,” says Todd W. Carter, president and senior partner of Panda Power Funds. “Because of their vision, Pennsylvania is leading the nation toward economic prosperity and energy independence.”

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