Published: Sep. 30, 2024 at 3:36 PM CDT |Updated: 3 hours ago SHERMAN, Texas (KXII) - An expansion to a Sherman-based energy plant is expected to boost the Texas power grid. The Rayburn Energy Station, formerly known as Panda Energy, in Sherman, opened ten years ago. “It’s a state-of-the-art facility,” said Sherman Spokesperson, Nate Strauch, “The primary source of the electricity is natural gas but then it also has a secondary plant attached that uses the evaporation.” As Grayson County continues growing, more energy is needed. Those with Rayburn Energy began looking at options to increase the plant. “We as a board decided it was a need for our growing area,” said Grayson Collin Electric Cooperative CEO, David McGinnis. The plant currently generates around 750MW of energy. An upcoming expansion project would increase its capacity by more than 500MW. The addition would be built next to the current plant off of Progress Drive in south Sherman. “This plant was always planned for expansion from the times that talks began years ago,” Strauch said. Rayburn Energy is one of sixteen energy companies state-wide to be selected for the Texas Energy Fund, created after Hurricane Yuri. “Rayburn Energy Station is the only co-op-owned applicant that was approved by the state,” McGinnis said, “We will benefit from some of the low-interest loans.” While the cost of the expansion could not be released, the loans will help make it possible. “We get good financing support from the state government, and we’re boosting the grid all at the same time,” McGinnis said. This will improve grid reliability for nearby Texas counties. “Having the power generation sources closer to your house is better for those instances where there would be a brownout or a blackout or something like that happening statewide,” McGinnis said. While the expansion will not add jobs, it will serve Sherman economically. “Anytime you get an industrial company coming in with hundreds of millions of dollars, that takes a huge chunk of property taxes away from the citizens that they don’t have to pay,” Strauch said. If the permitting process continues as expected the expansion project would begin by summer 2028. Copyright 2024 KXII. All rights reserved. Most Read