Panda combined cycle natural gas-fueled generating plant in Texas granted air permit

Panda Energy International Inc. said that the Texas Commission on Environmental Quality has granted the air permit for the company’s planned 500-MW combined-cycle power plant in Sherman, Texas. The natural gas-fueled generating station is expected to be able to supply the power needs of approximately 400,000 homes in North Texas and is expected to provide an economic stimulus of more than $248,000,000 into the area’s economy during the plant’s first 10 years of operation.

At peak construction, an estimated 400-500 construction jobs will be created to build the power plant which will take approximately two years. During operations, the generating station will create an estimated 34 high-paying jobs to run the facility and 45 indirect jobs within the community to support it.

Among other basins, natural gas for the Sherman project will come from the Barnett Shale and will be supplied by Texas gas producers. The generating station will be located on a 200-acre site at the Progress Industrial Park in Sherman, Texas. Next steps for the project include obtaining long-term power contracts, selection of an EPC contractor and securing financing.

Panda Energy previously announced that it plans to build, own and operate a 1,000 MW natural gas-fueled, combined-cycle power plant in Temple, Texas.

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