Source, please? Because everything I get with a quick google search says the F40PH comes with an EMD 16-645E3 engine, rated for 3000-3200 hp.
it's not unheard of for smaller railroads to implement what's known as "de-rating". This practice is widely used in the industrial world, from electronics to aviation to automobiles and locomotives. This could be to reduce emissions, prolong operational lifespan or some other economic reason. A simple example would be when I underclock/undervolt my Android tablet to achieve a longer battery life.
Anyway, here's some raw photos from a corporate shoot across the subdivision today. It appears Management is preparing for something big..