According to Panda Energy, the highly efficient natural gas-fueled generating station will be able to supply the power needs of approximately 400,000 homes in north Texas and is expected to bring more than $248 million into the area’s economy over the next 10 years.
Panda Energy said that the Sherman generating station will utilize the latest in proven technology and will be one of the cleanest power plants in the US. Air emissions at the facility will reportedly be controlled to among the very lowest of any power plant in Texas.
The generating station will be located on a 200-acre site at the Progress industrial park in Sherman, Texas. Construction will take approximately 24 months and is dependent upon financing, regulatory approvals and other conditions.
Robert Carter, chairman and CEO of Panda Energy, said: Panda Energy is continuing its work to build out a fleet of new generating stations that will help meet the rising demand for clean, low-priced electric power. North Texas officials are clearly looking toward the needs of tomorrow, and we look forward to working with them to enhance the future reliability of the region’s power supply.
