Partners

From pre-investment to operations, Panda’s partners understand the complexities of the power industry. They are extremely knowledgeable of the nation’s various power markets and know how to site or acquire the right asset, in the right place and at the right time to take advantage of the many opportunities which exist in today’s marketplace. They know how to structure power investments to help minimize risk and maximize returns.

Robert W. Carter

Managing Partner and Chief Executive Officer

Robert W. Carter

Mr. Carter is the Managing Partner and Chief Executive Officer of Panda Power Funds. Mr. Carter served as Chairman and Chief Executive Officer of Panda Energy, the predecessor organization to Panda Power Funds, since founding the company in 1982. Under his leadership, Panda Energy developed more than 9,000 megawatts of generating capacity, at a cost of more than $6 billion, including the two largest natural gas-fueled power plants ever built in the United States — the 2,250-MW El Dorado, AR and the 2,250-MW Gila River, AZ generating stations. He has more than 30 years of business experience in the energy sector in the United States and abroad.

Prior to founding Panda Energy, Mr. Carter founded Carter Oil and Gas, Inc. in 1980 where he developed oil and gas prospects in the U.S. and Colombia. Before founding Carter Oil and Gas, Mr. Carter was Vice President of Oil and Lease Sales for Reserve Energy where he developed oil and chemical projects in the U.S. and Saudi Arabia. Mr. Carter spent his earlier career in the manufacturing sector where he represented Olin Matheson Chemical and Inland Mead Corporation. Mr. Carter attended the University of Georgia.

Mr. Carter and his wife Janice live in Dallas and have two children and five grandchildren. He remains an active philanthropist and avid outdoor sportsman. In 2010, Mr. Carter received the T. Boone Pickens Lifetime Sportsman of the Year Award, an honor recognizing those who have demonstrated a life of adventure, respect of natural resources and spirit of giving back to the community. As a recipient of this prestigious honor, Mr. Carter joined a small but distinguished list of past winners who include notable conservationist/entrepreneur Ted Turner and author Ray Sasser.

“We deeply value the trust and confidence our partners place in us. They represent charitable organizations, retirement savings, teachers, and public and private sector employees. We look forward to rewarding their faith in us.”

Todd W. Carter

Senior Partner and President

Todd Carter

Todd W. Carter is the Senior Partner and founding President of the Panda Power Funds. Under his leadership, the firm raised $420 million in capital commitments — in its first fund — during the height of the worst economic recession since 1945. Since then, he has overseen the financing of approximately $5 billion in energy assets, across two funds, in less than three years. The first three financial transactions were widely reported by Reuters as a “breakthrough” for the U.S. project-finance market by helping to establish the Term Loan B banking market.

Engineering News Record, the trade bible for the construction industry, also reported that Panda Power Funds “… is building and planning more new natural-gas-fired combined-cycle units than anyone else in the U.S…”

Mr. Carter has guided Panda to finance, develop and build eight power facilities since 2011. The Fund currently has two combined-cycle power plants in operation in Temple and Sherman, Texas, and four combined-cycle power plants currently under construction in Texas, Pennsylvania and Virginia with a combined capacity of more than 4,700 megawatts. Panda Power Funds also has an 859 megawatt power project in Southern Maryland in advanced development. The fund built a 20 megawatt solar farm in southwest New Jersey that is one of the largest solar facilities in the Northeast United States.

Mr. Carter served as President of Panda Energy from September 2007 until April 2010 and from 2000 to October 2006. From October 2006 to August 2007, Mr. Carter served as President and Chief Executive Officer of Panda Ethanol. He has been employed by Panda Energy and its affiliates for 19 years. From 1999 to 2000, Mr. Carter served as Senior Vice President of Corporate Finance. From 1997 to 1999, Mr. Carter served as Senior Vice President of International Business Development.

Mr. Carter received a Bachelor of Arts degree in Economics from The University of Texas at Austin.

“Amazing things happen when a motivated team works hard, aims big and refuses to make excuses.”

Ralph T. Killian

Partner

Ralph T. Killian

Mr. Killian became a Partner of Panda Power Funds in April 2010 and is responsible for development, construction, fuels, operations, and asset management. Mr. Killian rejoined Panda Energy in December 2004 and served as Senior Vice President of Development of Panda Ethanol and Panda Energy until April 2010. From 2002 to 2004, Mr. Killian provided consulting, advisory and management services to various companies in the energy industry including the organization and management of a wind energy company. Mr. Killian previously served Panda Energy in many roles from 1989 through 2001, with senior management responsibility over business development, fuels, power sales, operations and asset management. Prior to joining Panda, he was Senior Vice President for Texas Eastern Gas Transmission Corporation and served in various management and engineering positions with Amoco Production Company.

Mr. Killian received a Bachelor of Science in Chemical Engineering from the University of Florida.

William C. Nordlund

Partner

William C. Nordlund

Mr. Nordlund is a Partner of Panda Power Funds, responsible for equity and fund formation. Prior to Panda Power Funds, Mr. Nordlund served as Senior Vice President responsible for equity, Executive Vice President of Finance, and Senior Vice President and General Counsel at Panda Energy. Mr. Nordlund has also served as Head of Power Generation at ABB Equity Ventures, President and Chief Executive Officer of Dolphin Networks Ltd., a portfolio company of Dolphin Equity Partners engaged in the development of fiber optic cable networks, Vice President and General Counsel at The Oxford Energy Company, an attorney at Constellation Holdings, and a Partner at Winston & Strawn. He has more than 30 years experience in the energy sector.

Mr. Nordlund received a Master of Management degree in Finance and Management Policy from JL Kellog School of Business at Northwestern University, a Juris Doctor degree from Duke University and a Bachelor of Arts degree in Economics and Business Administration from Vanderbilt University.

“Panda finds ways to do the impossible. The landmark Temple and Sherman transactions were the result of our team’s creativity and perseverance and the support of our partners.”

Robert K. Simmons

Partner

Robert K. Simmons

Mr. Simmons served as Managing Director, Chief Financial Officer, Treasurer and CCO of Panda from April 2010 through November 2013, and as Chief Financial Officer of PEII and Senior Vice President of Panda Ethanol from March 1, 2001 through April 2010. After joining PEII, Mr. Simmons was involved in investment capital raising relating to Panda Fund I and II, strategic development, project financings, joint ventures, an initial public offering, corporate capital and equity offerings as well as management of accounting, cash management and other back office support functions. Before joining PEII in 2001, Mr. Simmons was a Managing Director for Structured Finance at Deutsche Bank, AG. Mr. Simmons also held senior positions at Swiss Bank Corp. and Citibank. Since 1978, he has participated in financings, joint venture organizations, restructurings, mergers and acquisitions in the power, alternative energy and construction industries. Mr. Simmons received a BSBA from Georgetown University and a Masters of Management degree from the JL Kellogg School at Northwestern University.