Todd Carter is president of Panda Energy, a Dallas-based power developer and operator founded by the Carter family in 1982. The firm has raised nearly $6 billion to develop, construct and operate more than 9,000 megawatts of power generating capacity, including the two largest gas-fired plants in the United States. The company intends to put its entire organization and pipeline of projects into the Panda Power Generation Infrastructure Fund, which will be focused on U.S. greenfield and certain brownfield power generation expansion opportunities.

Carter has approximately 20 years of experience in the energy sector. Institutional Investing in Infrastructure senior editor Drew Campbell recently spoke with Carter about the power market.

What have been some of the more significant milestones and highlights for the independent power industry since Panda was founded in 1982?

The first milestone occurred in 1978 with the partial deregulation of the power indust