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Governor Corbett Breaks Ground on Marcellus Shale Power Plant That Will Contribute Nearly $6 Billion to Local Economy; Expected to Power 1 Million U.S. Homes With Clean Energy

Press Release

Location: Towanda, PA

Governor Tom Corbett today broke ground on the Panda Liberty project, an 829-megawatt natural-gas fueled power plant in Asylum Township, Bradford County, Pennsylvania. The plant is expected to power up to 1 million homes in the Northeast with clean energy and will create and support nearly 600 jobs in the local community.

"Our all of the above - and below - energy strategy is putting Pennsylvania at the forefront of the American energy revolution," said Corbett. "It's a strategy that builds upon the idea that energy equals jobs."

According to Panda Power Funds, this project is the first power plant deliberately sited in the heart of the Marcellus Shale to take advantage of low natural gas prices and transportation costs. The "Liberty" facility will be one of the cleanest natural gas-fueled power plants in the nation, utilizing state-of-the-art emissions-control technology. The company also estimates the plant will contribute an estimated $5.97 billion to the local economy within the first 10 years of operation. The plant is expected to be fully operational in 2016.

"By harnessing our world-class energy resources in a responsible way, and working with energy companies who want to locate here, we are reviving and reinvigorating communities from Towanda to Williamsport," said Corbett.

The governor was joined for the groundbreaking ceremony by state and local officials, including Sen. Gene Yaw (R-26) and Rep. Tina Pickett (R-110), as well as officials from Panda Power Funds, a national leader in the development, acquisition, construction financing and operation of large-scale, natural gas-fueled power generation facilities.

"We are investing hundreds of millions of dollars here precisely because Governor Corbett and other Commonwealth officials have been far sighted in developing Pennsylvania's abundant natural resources," added Todd W. Carter, president and senior partner of Panda Power Funds. "Because of their vision, Pennsylvania is leading the nation toward economic prosperity and energy independence."

Earlier this year, Gov. Corbett issued "Energy = Jobs," a resource book that reflects his vision and commitment to position the commonwealth as a national leader in both energy production and natural resources, and leverage Pennsylvania's world class energy industry to create family-sustaining jobs.

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