Panda Power Funds - Temple Power Project
Siemens supports development of high-efficiency power plant in U.S.
Siemens Energy was awarded an order to supply a Siemens Flex-Plant™ 30 power station for the Panda Power Funds' Temple Power project in Temple, Texas.
Siemens Financial Services (SFS) was approached to provide financing and guidance for the project’s financing structure.
SFS helped finance the project with a $25 million term loan which will partially fund the construction of the 758 MW natural gas-fired combined cycle power plant.
SFS acted as an advocate for the client’s benefit throughout the financial structuring of the project, becoming an anchor member of the lending syndicate.
Siemens provided both highly efficient technology and complementary financing support to Panda Power to help complete this project.
The power station will eventually supply the power needs of approximately 750,000 homes in Central and north Texas.