Panda Power Funds Finances Coal-to-Natural Gas Power Conversion Project

Panda Power Funds financed the 1,124-MW Panda Hummel Station power plant, one of the largest coal-to-natural gas power conversion projects in the United States. The plant will be located at the site of the retired Sunbury coal-fired power plant near Shamokin Dam in Snyder County, Pennsylvania. The 400-MW, 65 year old plant was shuttered in 2014. The Panda Hummel generating station will be fueled with Marcellus Shale gas. Goldman Sachs, ICBC and Investec acted as joint lead arrangers for the senior debt financing of the plant, raising Term Loan A and Term Loan B debt capital totaling $710 million.