Pandering to the energy-deprived, Panda Energy International develops, owns, and operates low-cost, clean energy power plants. The company has built more than 9,000 MW of electric generation capacity in the US. Panda Energy has sold its interests in four gas-fueled power plants in Arkansas, Arizona, and Texas to TECO Energy, and its stakes in projects in China and Nepal. Panda Energy has built the two largest gas-fueled, combined-cycle independent electric generation facilities in the US, totaling 4,400 MW of generating capacity. CEO Bob Carter and his wife, EVP Janice Carter, own a controlling stake in Panda Energy, which they founded in 1982.
In 2006 the company developed a waste-to-energy plant in Hereford, Texas, that burns millions of tons of cow waste as fuel to produce 100 million gallons of ethanol a year. It spun off this entity as Panda Ethanol.
Continuing its Texas focus, in 2007 Panda Energy announced plans to build, own and operate a 1,000 MW plant in Temple, and in 2008 it said it would also build a 500 MW power plant in Sherman. In 2010 the company was granted an air prmit for the Sherman power plant for the Texas government.