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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