Our History: Power Development Company
Panda Power Funds was formed in 2010 by the former senior management team and energy professionals of Panda Energy International, an independent power development company that was founded in 1982. The executive team of Panda Power Funds are the majority of the same persons who — while at Panda Energy — financed, developed, built and operated 9,000 MW of generating capacity, at an approximate cost of US $6 billion, including the two largest natural gas-fueled power plants ever built in the United States — the 2,250 MW Gila Bend, AZ and the 2,250-MW Eldorado, AR generating stations. (The debt financing of these two power plants required a banking syndicate of more than 40 banks.)
Upon Panda Power Funds initial financial close in 2010, nearly all of Panda Energy’s senior management and energy professionals transitioned to the new fund organization.
Our Focus: Power Plant Acquisition and Power Development
Panda Power Funds is focused on domestic, greenfield power development; brownfield acquisition and expansion; and developing solar and other energy projects in the United States and Canada. The Fund specializes in mitigating development and construction risks. Panda will assume these risks in working with its power customers. We will also use flexible structures to meet the needs of our power customers including long-term sales contracts; joint venture partnerships; and build, own or transfer arrangements.
Panda Power Funds is continually exploring investment opportunities in both conventional and renewable energy. In addition to evaluating third-party opportunities and management teams, the firm has the ability to internally source and develop, acquire, invest in, and operate large-scale, natural gas-fueled and solar generating facilities.