Panda Sherman Power Project

The Panda Sherman Power Project is a clean natural gas fueled combined-cycle facility consisting of two combustion turbines and one steam turbine. Once built, the plant is expected to supply the power needs of approximately 450,000 homes and should infuse almost $250,000,000 into the area's economy.


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What’s happening at the Panda Sherman power project?
A power project has literally hundreds of items which must be completed prior to the beginning of construction. These involve:
  • Securing environmental permits,
  • Negotiating power purchase agreements,
  • Procuring gas supplies,
  • Acquiring adequate water supplies,
  • Identifying and reserving power generation equipment,
  • Working with local officials to obtain mutually beneficial tax agreements,
  • Engineering and designing the facility, and
  • Financing the project.
Panda Energy has more than 50 professionals experienced in each of the above areas and more. They are working to complete the task necessary to see the Panda Sherman Generating Station come out of the ground. 
Check back to this Web page often to learn about the Sherman project’s latest developments. 

About Sherman

The City of Sherman, Texas, is located at the crossroads of U.S. 75 and U.S. 82 in North Texas. The county seat of Grayson County, Sherman is a community of 36,000 residents and home to several Fortune 100 industries in addition to Austin College, a vibrant arts community, and abundant recreational opportunities. Excellent schools, beautiful scenery, and a variety of shopping, restaurants and hotels add to the community.

Sherman is 60 miles north of Dallas—close enough to the Dallas-Fort Worth Metroplex to access the urban amenities—yet it still retains an unhurried and friendly atmosphere of smaller communities. Sherman also has a richly diverse history and is only 10 miles south of Lake Texoma, one of the largest reservoirs in the state of Texas and well-known for its champion bass fishing, sailing, camping and hiking.

Used with permission from Department of Tourism

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Facility Facts

Location: Progress Industrial Park Sherman, Texas
Site Size: 200 acres
Size: 500 megawatts nominal capacity; 650 megawatts maximum capacity
Technology: Combined cycle
Fuel: Clean, natural gas from the Barnett Shale
Economic Impact: Approximately $248,000,000 during the first ten years of operation
Environmental Impact: The generating station will be one of the cleanest power plants in the United States
Jobs Created: 300-400 construction jobs; 27 direct jobs to run the plant; 32 indirect jobs to support the plant
Air Permit Received: Feb. 4, 2010
Construction Start Date: TBA
Construction Time: Approximately 24 months
Anticipated Date of Substantial Completion: TBA

Local Support

“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 been accessible and has proactively communicated with City Hall throughout all phases of this exciting development. Panda's actions have shown us that they will be a good corporate citizen of our community.” 

-- City of Sherman Mayor Bill Magers

“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.”

-- John Boswell, president, SEDCO


City of Sherman

Sherman Economic Development Corporation (SEDCO)

Sherman Department of Tourism

Sherman Independent School District

Austin College

Grayson County College

Sherman Council for the Arts and Humanities

Contact Us

Question about the
Sherman project?
Send us an e-mail, and we’ll answer your question to the best of
our ability.

Interested in being a vendor?
Attach your company information to this e-mail. Your information will be routed to the appropriate person at Panda. You will be notified about the company’s interest when construction approaches.

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