Subject to the provisions of this subtitle, the Administration may acquire in its own name, by purchase or by condemnation, any property, including any public land, land lying under water, or riparian right, necessary or convenient to construct or operate any project. Any condemnation proceedings under this section shall be conducted under Title 12 of the Real Property Article. The Administration may not condemn any property unless the property is located entirely within the territorial jurisdiction of the Administration. The Administration may not condemn any property that belongs to a public service company subject to Division I of the Public Utilities Article, if the property is: Devoted to public use; or Reasonably necessary for future public use by the public service company.