Power Projects Popping Up Like Weeds in Texas
Texas Independent Energy, a 50-50 joint venture of PSEG Global
of New Jersey and Panda Energy International of Dallas, plans to
design, build and operate a third merchant power plant in Texas.
This one, to be in Ector County, represents a total investment of
about $300 million. The Ector County plant will burn an average of
145 MMcf/d with a peak gas consumption of 170 MMcf/d. Commercial
operation is expected by summer 2001.
The project will feed into the Electric Reliability Council of
Texas (ERCOT) grid for sale to any of its members, which include
Texas Utilities and West Texas Utilities, along with numerous other
utilities and co-ops across the state.
The joint venture recently announced two similar merchant plants
in Archer County near Wichita Falls and in Guadalupe County just
outside San Antonio (see Daily GPI April 6, 1999).
"With 3,000 MW of state-of-the-art technology on line by 2001,
Texas Independent Energy will have the most efficient generation
fleet in ERCOT," said Jeffrey Moore, regional vice president-US
market for PSEG Global's North and South American subsidiary.
The joint venture's initial project is a 1,000 MW combined cycle
gas plant in Guadalupe County in South Central Texas, a project
initiated by Panda last year. The development of the Guadalupe
project is complete and financing is underway. The project is
slated to start construction this summer and be completed by
January 2001. Maximum daily gas consumption of the Guadalupe plant
is expected to be 170,000 MMBtu, and the average daily consumption
is expected to be 145,000 MMBtu.
Panda Energy International, a privately held company
headquartered in Dallas, operates plants in North Carolina and
Maryland and has additional projects under construction in China
and Nepal. Panda also announced plans earlier this week for a $400
million generating plant near El Dorado, AR.
PSEG Global develops, owns and operates private power and
distribution facilities with at least 26 projects in Argentine,
Brazil, China, India, the U.S. and Venezuela. PSEG Americas is
headquartered in Miami and supported by offices in Ridgewood, NJ;
Sao Paulo; Caracas; and Buenos Aires.
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