The permit was issued to Invenergy Thermal Development, which intends to build a new simple-cycle power generation facility.
Plans include the construction of two natural gas-fired simple-cycle combustion turbines at a new facility in Goldsmith, Texas, near Odessa.
The facility will feature a natural gas-fired dew point heater, a fire water pump engine, and circuit breakers.
The turbines will generate 165MW of energy and the EPA said the expansion will bring $104m in economic development to the local area and increased jobs.
EPA regional administrator Ron Curry said: "Facilities like Invenergy’s show Texas can provide power while cutting greenhouse gas emissions.
"Taking advantage of clean-burning natural gas is a win for business and the environment."
EPA finalized 51 GHG permits in Texas, planned an additional four permits, and presently has 11 further permit applications under development in Texas.