Vistra to Gain Full Ownership of Power-Generation Assets

Researched by Industrial Info Resources (Sugar Land, Texas)--Vistra Corporation (NYSE:VST) (Irving, Texas) said it reached agreements with minority owners to purchase full ownership of Vistra Vision LLC, Vistra's subsidiary that owns nuclear, energy storage and solar assets as well as its retail business. Industrial Info is tracking $6.3 billion worth of active and planned projects from Vistra, more than 60% of which is attributed to either natural gas or solar generation.

Vistra will acquire the remaining 15% stake in Vistra Vision collectively owned by affiliates of Nuveen (Chicago, Illinois) and Avenue Capital Management (New York, New York) for $3.2 billion in cash.

"Vistra believes its strength is its integrated model of pairing a large fleet of dispatchable generation assets with best-in-class retail and commercial operations, ensuring customers are served in a reliable, affordable, and sustainable manner," Jim Burke, chief executive officer of Vistra, said in a September 19 press release. "Vistra continues to be well-positioned to assist with the growing power needs across our country."

Vistra Vision's assets include the Beaver Valley, Comanche Peak, Davis-Besse and Perry nuclear power plants with total capacity of approximately 6.4 gigawatts (GW). As Vistra aims to boost its power generation, the company recently received approval from the U.S. Nuclear Regulatory Commission (NRC) (Rockville, Maryland) to operate the 2,400-megawatt (MW) Comanche Peak plant in Texas through 2053. The NRC also is reviewing a license renewal application for the Perry plant in Ohio.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can read profiles for the Beaver Valley, Davis-Besse, Perry and Comanche Peak plants.

According to the press release, the agreement "does not impact or change Vistra's capital allocation priorities," which Vistra expects will total about $1.17 billion in full-year 2024, including $682 million for solar and storage development.

Two of Vistra's high-dollar solar developments are attributed to brownfield projects. The $220 million Oak Hill solar plant in Texas is in the site preparation phase at the site of a coal-fired power plant and is designed to provide 200 MW of power from photovoltaic (PV) panels provided by First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona). Completion is expected in 2026. Meanwhile, the 100-MW, $225 million Vermillion solar plant in Illinois is expected to kick off in October at the site of a retired lignite mine and wrap up construction in mid-2025; Vistra also is building out a 25-MW battery energy storage system (BESS) at the site. Subscribers to the GMI Project Database can read reports on the Oak Hill and Vermilion solar and BESS projects.

Other projects include the $135 million Baldwin solar and BESS in Illinois, which is designed to provide 68 MW of solar power and another 2 MW of energy storage for when the sun isn't shining; the BESS will utilize lithium-ion technology from Tesla (NASDAQ:TSLA) (Austin, Texas). The project kicked off in March and is expected to wrap up in mid-2025. Click here for the project report.

Another solar-plus-storage project is expected to begin construction in October: the $136 million solar-BESS complex in Kincaid, Illinois is set to generate 60 MW of power and utilize lithium-ion battery technology from LG Energy Solution (Seoul, South Korea) to store 8 MW. Click here to read more information on the project, which is expected to be completed by the end of 2025.

Vistra also plans to add a 45-MW, $59 million BESS at its plant in Joppa, Illinois (see project report.)

The company also is performing upgrades and overhauls to improve efficiency and replace outdated equipment at its gas-fired power plants. The company next month expects to begin a two-month, $18 million revamp of Unit 2 at its Luminant Power Plant in Bellingham, Massachusetts. The unit generates 285 MW and will see its tube sections replaced. Subscribers can learn more from the project report.

Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.

Subscribers can click here for a full list of reports for active and planned projects from Vistra.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).