Stephen J. Feerrar of Allentown has been named vice president of finance at Power Markets Development Co., a subsidiary of Pennsylvania Power & Light Co.

Power Markets Development was created in 1994 to invest in electric energy facilities worldwide.

Feerrar was previously at Air Products and Chemicals Inc. where he most recently served as assistant director of project finance and business development in the Corporate Treasury Department. In that position, Feerrar was responsible for the financial development of major energy facilities, including the acquisition of new projects.

In his 15-year career at Air Products, Feerrar also served as manager of finance and controller for the cogeneration business, manager of investment analysis for the Process Gases Division and manager of corporate strategic planning.

"Steve brings a wealth of experience in the area of finance and the development of power projects," said Robert D. Fagan, president of PMDC. "He adds to the depth and quality of the management team we have assembled in PMDC."

He received his B.S. degree in chemical engineering from Drexel University and M.B.A. in finance from the Wharton School at the University of Pennsylvania.

Feerrar, his wife, Debbie, and two daughters will be relocating from Allentown to PMDC's offices in Fairfax, Va.