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Panda Energy To Build 500 MW Power Plant In Texas
Dallas TX (SPX) Mar 17, 2008 Panda Energy announced that it 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. "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," said Robert Carter, chairman and chief executive officer of Panda Energy. "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." Sherman Mayor Bill Magers said Panda representatives have been actively engaged with community leaders since the beginning of the site selection process. "They've done a good job answering questions and building support for this project. Panda has also shown that they intend to be a good corporate citizen of our community." "I can't think of another company that has worked harder to bring something good to the city of Sherman than Panda Energy," added John Boswell, president of the Sherman Economic Development Corporation. "This power plant will have a significant impact on the area's economy for years to come. It will expand the tax base, enlarge payrolls and drive revenues for contractors, suppliers, engineering firms, hotels, restaurants, retailers and a host of other businesses. The plant will create an estimated 300-400 construction jobs, 25 direct jobs to run the facility and 32 indirect jobs to support it. This is good for the city of Sherman." 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. Related Links Panda Energy Powering The World in the 21st Century at Energy-Daily.com
Analysis: Central Asia and Gazprom
Washington (UPI) Mar 14, 2008Kazakhstan, Turkmenistan and Uzbekistan have long chafed under Gazprom's pricing arrangements for their natural gas exports, as the energy giant has long adhered to the policy of buy cheap, sell dear. |
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