Panda Energy intends to build, own and operate a 500-megawatt combined-cycle power plant in an industrial-zoned area of the city of Sherman, Texas. 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 $248,000,000 into the area’s economy over the next 10 years.

The Panda Sherman generating station will utilize the latest in proven technology and will be one of the cleanest power plants in the nation. Air emissions at the facility will be controlled to among the very lowest of any power plant in Texas, a state which possesses some of the country’s most stringent air quality standards.

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.

Panda Energy previously announced that it has filed for an air permit to build a 1,000-megawatt combined-cycle power plant in Temple, Texas.