E3 Consulting Serves as Independent Engineer in Support of Acquisition of Panda Power Generation Projects

E3 Consulting served as the Independent Engineer on behalf of Carlyle Group in its joint bid with EIG Global Energy Partners to acquire Liberty and Patriot Power Projects from Panda Power Funds through Hamilton Projects Acquiror, LLC.

Morgan Stanley, BNP Paribas, and Credit Suisse led the bank group for the approximately $900 million term loan B financing.  The two 829 MW combined-cycle gas turbine plants, which operate in the PJM market, are located in Pennsylvania. Each consists of two 400 MW Siemens SGT6-8000H gas turbines, Siemens SST-5000 steam turbines, Siemens SGEN6-H hydrogen-cooled generators, Vogt heat recovery steam generators and air cooled condensers. 

As the Independent Engineer, E3 was responsible for reviewing the design and operating performance of the plants, as well as their continued technical and economic viability. Our review provided opinions regarding specific Project risks and uncertainties and offered an evaluation of the continued operation of the Liberty and Patriot plants. 

The E3 team was led by Vince Tummarello, an E3 Managing Director, located in the New York City metro area.   Joe Mendez and Carol Ho played key roles in completing this assignment. For additional information about this engagement, please contact Vince Tummarello at 914-262-8533 or vince.tummarello@e3co.com.