Dallas developer to build power plant in Temple

July 24, 2012 by  

On July 19, a Dallas power plant company announced that it has been guaranteed finance to construct a natural gas power plant in Temple, Texas. Panda Power Funds stated that the power plant was expected to be ready for 2014 and is reputedly going to be one of the cleanest natural gas plants in the US.

The power plant will be a 758-megawatt power plant fired by natural gas, powering around 750,000 homes in North and Central Texas. In addition to being among the cleanest power plants, it will also help to build the economy of Temple in the near future, according to the Mayor of Temple, Bill Jones, who believes that jobs and local industry will also benefit from the planned power plant.

It is estimated through Impact Data Source analysis that the plant will draw $1.6 billion into the Temple economy in the first 10 years of its operation. According to the analysis, about 800 people will be employed during the construction of the plant, while the operation of the plant will require around 80 employees, who will be involved both directly and indirectly. The company will possibly utilize the services of the local brochure printers to provide details of the new natural gas plant and its anticipated benefits to the area.

According to the president and senior partner of Panda Power Funds, Todd W. Carter, the project has faced huge challenges to make the plant a reality, especially in a financial market which is experiencing uncertainty. However, he further added that the team at Power PANDA Funds never forgot that the power was needed by Texas.