Panda Power Funds announces plans to build power plant in Brandywine

Panda Power Funds, a private equity firm based in Dallas, said Monday that it plans to build and operate a power plant in Brandywine. The natural gas-fueled generating station will be able to supply power to about 859,000 homes in the Maryland-Washington area, the company said.

Panda Power said the area's economy is expected to get a $1.2 billion shot in the arm during the construction and first decade of the 859-megawatt plant's operation.

Gwen S. McCall, president and CEO of Prince George's County Economic Development Corp., said in a statement that the plant is expected to create up to 800 union construction jobs, 25 jobs to run the plant and 32 indirect jobs related to supporting the facility.

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