Panda Power announces new power deals
Panda Power Funds has announced two power generation transactions.
The Dallas-based private equity firm has acquired Moxie Energy’s planned 829-megawatt natural gas–fueled Liberty generation station in Bradford County, Pa. The Liberty project is being specifically developed to take advantage of its proximity to the Marcellus Shale gas formation. Construction on the 33-acre site is expected to begin immediately and commercial operations are expected by early 2016.
Panda Power also plans to build, own and operate an 859-megawatt combined-cycle power plant in Brandywine, Md. Once complete, the natural gas–fueled generating station will be able to supply power to nearly 860,000 homes in Maryland and the Washington, D.C., metropolitan area.