Senior debt financing for the power plant was arranged by Goldman Sachs and Credit Suisse, while documentation agent was Ares Capital.
Construction on the 204-acre site at Progress Industrial Park 3 in South Sherman has already started and commercial operations are expected to begin by the end of 2014.
The company, an affiliate of Panda Power Funds, said it is supplying equity for the gas-fired project along with several other institutional co-investors.
Panda Power Funds president and senior partner Todd W Carter noted that the tough financing market seen two months ago is starting to show signs of movement.
"While it was still a long, hard march to closing, calls were coming in to us from many different quarters to be a part of this project," Carter said.
The Dallas-based firm has selected a consortium of Bechtel and Siemens Energy to build the plant, which will utilise combustion turbine and emissions-control technology.
The generating station is expected to power about 750,000 homes in the North Texas area.
Sherman Mayor Bill Magers highlighted that the new generating facility will provide necessary electricity required to locate future commercial enterprises in the North Texas region.
