Panda Power Funds backs Pennsylvania coal-to-natural gas power plant

By Iris Dorbian — 4 months ago

Panda Power Funds has financed the Panda Hummel Station power plant, a coal-to-natural gas power conversion projects that will be based near Shamokin Dam in Snyder County, Pennsylvania. Goldman Sachs, ICBC and Investec have arranged $710 million in debt funding for the plant while Siemens Financial Services is investing $125 million in equity. The plant is slated to supply power markets that include the New York metropolitan area and Philadelphia once it begins operations in the first quarter of 2018.


Panda Power Funds Secures Financing for Power Plant

By Angela Sormani — 3 years ago

Panda Power Funds affiliate Panda Sherman Power has successfully completed the financing on its planned 758-megawatt natural gas-fueled, combined-cycle power plant in Sherman, Texas. The company will immediately start construction on the 204-acre site and expects commercial operations to begin by the end of 2014. Goldman Sachs and Credit Suisse arranged the senior debt financing for the plant. Ares Capital was the documentation agent.


Panda Power Raises $420 Mln with Infrastructure Pool

By Luisa Beltran — 4 years ago

Panda Power Funds said Wednesday that it has raised $420 million with its Panda Power Generation Infrastructure Fund. The pool expects to develop or acquire U.S. natural gas-fueled power plants and utility-scale solar projects in select states. Beacon Hill Financial Corp. was placement agent while Compass Advisors advised on the capital raise. Latham & Watkins was their attorney.