Panda Power Funds, a private equity firm based in Dallas, plans to build, own and operate a 859MW natural gas-fired combined-cycle power plant (CCPP) project in Maryland.

To be located between Air Force road and the CSX rail line off Brandywine road, the power plant will be able to supply electricity to 859,000 homes in the Greater Maryland / Washington D.C. metropolitan area.

The Mattawoman plant will have advanced emissions-control technology and will be a ‘zero-liquid-discharge’ plant.

The project will use recycled municipal waste water for cooling purposes.

The plant will provide about 700-800 jobs during its construction, 25 direct jobs for running the facility and 32 indirect jobs for supporting the project.

The project will be completed in about 30 months, subject to financing, regulatory approvals and other conditions.

Panda Power Funds president and senior partner Todd W. Carter said, "Maryland state officials are clearly looking toward the needs of tomorrow, and we look forward to working with them to enhance the future reliability of the region’s power supply."

"We also look forward to continuing our relationship with the local community and helping ensure that the Mattawoman generating station is a positive for everyone concerned," Carter added.