Panda Sherman Power has secured financing for its proposed 758MW natural gas-fuelled, combined-cycle power plant in the city of Sherman in Texas, US.
Construction on the 204-acre site has already begun and commercial operations are likely to start by the end of 2014.
The firm has selected a consortium of Bechtel and Siemens Energy to construct the plant located at Progress Industrial Park 3 in South Sherman.
The generating station, which will utilise combustion turbine and emissions-control technology, is expected to power about 750,000 homes in the North Texas area.