Panda Power Said to Seek $700 Million for Gas-Fired Power Plant

  • Hummel Station to use hedge in lieu of power-purchase deal
  • Power project to be built alongside closed coal-fired plant

Panda Power Funds, a Dallas-based private equity investor, is seeking to borrow about $700 million to build a 1,000-megawatt natural gas-fired power plant in Pennsylvania, according to three people familiar with the deal.

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