Sherman fires up $350M Panda power plant

SHERMAN – The $350 million Panda Sherman Power complex has officially been commissioned, though the facility has been generating power for three months.

Panda Sherman will generate an estimated $1.7 billion in local economic impact during its first decade of operation, according to projections provided by the city, with nearly 30 permanent jobs and millions of dollars in property taxes.

Panda received $2.7 million in incentives to bring the project to Sherman, according to the Sherman Economic Development Corporation.

The facility will use up to 5 million gallons of Lake Texoma water each day for steam generation, most of which will evaporate into the air through large cooling towers which produce harmless plumes of water vapor above the plant. The city will be paid for each of those gallons, with up to $1 million added to town coffers each year.

The plant features two gas-fired turbines that convert shale-harvested natural gas into 179 megawatts of energy each. They also produce 1,100-degree exhaust, which is used to heat water, producing steam that powers a separate generator, adding another 194 megawatts to the plant’s output.

The facility will provide electricity to 758,000 homes across North Texas.

For more on the Sherman Panda plant, see previous story $350M Panda Sherman Power nears completion.
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