Panda Temple Power has selected Siemens and Bechtel to supply the 758MW natural-gas-fired combined-cycle power plant and a long-term service agreement for about $300m.

Siemens will supply a Siemens Flex-Plant 30 power station which offers operational flexibility and produce sufficient electricity to provide for about 750,000 homes.

Under the contract, Siemens will provide the power island equipment, including one steam turbine, two gas turbines, three generators and the instrumentation and control system, while Bechtel engineer, procure, install, construct and commission of the facility.

Siemens Energy Fossil Power Generation Division CEO Roland Fischer said power generation can commence within ten minutes of startup, and full base-load power production in less than one hour.

"This cutting-edge technology will provide clean power in the Texas market," Fischer added.

It also will reduce emissions, allow rapid response to changing market conditions, and enable added investment in intermittent renewable and zero-carbon resources."

The project is expected to become operational in 2014.

US based Panda Power Funds internally sources and develops, acquires, invests in, and operates large-scale, natural gas-fueled power generation facilities.