Sunbury Generation Lands First Tenant for Old Trail Industrial Park KOEZ with Announcement of Financing of Panda Hummel Station Power Plant
Retired Sunbury coal-fired power plant to be replaced in one of the
largest coal-to-natural gas power conversion projects in the United
Plant will be fueled with Marcellus Shale gas; power approximately 1
1,124 megawatt facility to occupy 18-acre parcel of Sunbury
Generation’s 192-acre Keystone Opportunity Expansion Zone (KOEZ)
Sunbury Generation LP announced today the successful financing of the
Panda Hummel generating station by development partner Panda Power
Funds, of Dallas, Texas. Panda Hummel will be the first tenant of Old
Trail Industrial Park which Sunbury Generation and their affiliate
Arcova Development LLC have developed. The new facility will occupy an
18-acre parcel of Sunbury Generation’s 192-acre Keystone Opportunity
Expansion Zone (KOEZ) at the site of the retired Sunbury Generation
coal-fired power plant.
The Sunbury/Arcova team led the early development of the project and
entered into a joint venture with Panda earlier this year to complete
development and arrange financing for the project, a +1,000 megawatt
natural gas-fueled, combined-cycle power project near Shamokin Dam in
Snyder County, Pennsylvania. Since that time, Panda has taken the lead
in developing Hummel Station.
“Panda is a clear leader in the power industry and has been a tremendous
partner. We are proud to be part of the development of the new Panda
Hummel Station power plant, which continues the site’s sixty-year
heritage of providing reliable generation capacity to the region,” said
Dave Meehan, President of Sunbury Generation.
Panda’s Hummel generating station is expected to bring significant
benefits to the region during construction and the life of the facility.
Approximately 900 jobs will be created to construct the power plant over
a two and a half year period. The generating station will create
approximately 35 direct, long-term jobs to run the facility and an
estimated 52 indirect jobs within the community to support the plant.
By serving as the anchor tenant in the 192-acre Sunbury Keystone
Opportunity Expansion Zone (KOEZ), Hummel Station should also support
additional investment at the site of the retired coal plant. The power
facility will also help support a long-term market for Pennsylvania
Marcellus Shale gas producers and royalty owners.
The Sunbury/Arcova early development team included technical expert Bibb
Engineers, Architects & Constructors of Kansas City, general counsel
Sidley Austin LLP of Washington DC, and Perella Weinberg Partners of New
York City acting as Sunbury’s financial advisor.
“Over the past several years, we have enjoyed tremendous support from
the local communities. Our dream to attract industrial tenants to the
KOEZ has achieved its first milestone, and Panda Hummel Station will be
a great new neighbor for Sunbury Generation and the entire region,”
About Sunbury Generation LP / Arcova Development LLC
Sunbury Generation LP and its General Partner, Corona Power LLC were
formed in 2006 and acquired the coal-fired power plant assets at the
Sunbury plant in Shamokin Dam, PA that same year.
Sunbury Generation partners include AMCI, of Greenwich, Connecticut, JAZ
Ventures LP, of Latrobe, Pennsylvania, and DALK Land LP, of Blossburg,
Sunbury formed Arcova Development in 2015 to provide early stage
development expertise for opportunities focused in the Marcellus
“Fairway”. The Arcova team has over 75 year’s collective experience in
executive management, project development, project management and design
engineering and construction.
Further information on Sunbury Generation and Arcova is available via
the contact information included with this release.
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