US-based private equity firm, Panda Power Funds, has acquired a majority interest in the proposed 750MW Stonewall combined cycle project, a natural gas-fired power plant to be located in an industrial-zoned area of Loudoun County, Virginia.

Originally proposed by Green Energy Partners / Stonewall, the project will include two identical natural gas-fired combined cycle turbines, each with its own duct-fired heat recovery steam generator, one steam turbine generator, a ten-cell mechanical draft cooling tower, a natural gas-fired auxiliary boiler, and a fuel heater.

The developers proposed to use either General Electric (7FA.05) or Siemens (SGT6-5000F5) natural gas-fired combined cycle turbines at the plant, which will span across a 101-acre parcel around four miles south/southeast of Leesburg.

Once operational during the spring of 2017, the plant will generate enough electricity to supply the power needs of around 750,000 homes in the Northern Virginia / Washington DC metropolitan area and will meet new carbon emissions standards proposed by the US Environment Protection Agency.