Panda began as an independent energy company in 1982 by developing, owning and operating two domestic Greenfield cogeneration facilities which met the qualifications of the Public Utility Regulatory Policies Act of 1978. In the 1990’s Panda pursued international power generation opportunities and was successful in financing, building and operating a hydroelectric power plant in Nepal and a coal-fired power plant in China. Panda is the only US developer to build a project in Nepal and Panda was the first developer to finance a power project in China in the US capital markets. In 1998, Panda became a premier player in the newly deregulated merchant electric power industry. Today, Panda is among the most active Ethanol developers in the world with multiple projects underway…all of which will, help America reduce its dependency on foreign oil and strengthen the U.S. economy by utilizing corn crops and biomass fuel to produce Ethanol.