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Released March 07, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Vistra Corporation (NYSE:VST) (Irving, Texas) announced this week it plans to acquire Energy Harbor (Akron, Ohio), which operates the second-largest non-regulated nuclear fleet in the U.S., for $3 billion. Vistra expects the acquisition will add roughly 500,000 retail customers and 4 gigawatts (GW) of nuclear capacity to its portfolio--along with $430 million in Energy Harbor's debt. Industrial Info is tracking $5.35 billion worth of active projects from Vistra and more than $670 million worth from Energy Harbor.
Click on the image at right for a graph detailing Vistra's active projects, by project type.
Energy Harbor already was undergoing a transformation before its agreement with Vistra: Last year, Energy Harbor announced it would permanently close the remaining coal-fired units at its W.H. Sammis Power Station in Stratton, Ohio, and Pleasants Power Station in Willow Island, West Virginia, by the end of 2023, amounting to more than 3 GW of capacity. Energy Harbor already is in the process of closing an ash pond at the Sammis plant, which services seven coal-fired boilers to comply with carbon combustion residual (CCR) regulations.
Vistra said it will not acquire any part of Energy Harbor's coal-fired fleet. Energy Harbor already has agreed to sell these assets to third parties. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports on the planned decommissioning and dismantlement of the Sammis and Pleasants plants, and the Sammis ash pond closure.
Subscribers can click here for a list of detailed profiles for Energy Harbor's active nuclear plants.
As part of the deal, Energy Harbor also gets a 15% equity interest in Vistra Vision, a new, zero-carbon subsidiary that will own Vistra's nuclear and retail businesses. According to Vistra, the subsidiary will have more than 5 million retail customers across the U.S. and access to a growth pipeline of 1.1 GW of renewable-based power-generation projects. Vistra will own the remaining 85% of Vistra Vision.
"We added over 400 megawatts of renewable and storage capacity in 2022, and we expect to add another 350 megawatts of storage capacity in California at our Moss Landing Phase 3 facility in mid-2023," said Jim Burke, the chief executive officer of Vistra, in a recent quarterly earnings-related conference call. "We also retired approximately 2,900 megawatts of Ohio and Illinois coal facilities at our Zimmer, Joppa and Edwards plants."
Burke was referencing the planned addition of a 350-megawatt (MW), Phase III battery energy-storage system (BESS) at a power plant in Moss Landing, California, which is to be performed by Vistra subsidiary Luminant Generation Company LLC. The addition will bring Moss Landing's total BESS capacity to 750 MW. The subsidiary also is planning upgrades to a pair of heat-recovery steam turbine generators (HRSG) at Moss Landing, to improve their efficiencies and service lives. Subscribers can read detailed reports on the BESS and HRSG projects.
Burke also noted Vistra is planning nine coal-to-solar plant transition projects across Illinois that are expected to be brought online in 2024 and 2025. These include a new solar-power and BESS facility in Coffeen, Illinois, which is expected to generate up to 44 MW from photovoltaic (PV) panels provided by First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona) and store 6 MW via lithium-ion technology. Subscribers can learn more from Industrial Info's detailed project report, and click here for a list of Vistra's solar and BESS projects throughout Illinois.
Solar and BESS projects have surged to the forefront of Vistra's capital-expenditure (capex) program for 2023. Of the $2.02 billion in capex planned for 2023, solar and BESS projects account for $977 million, while maintenance on nuclear and fossil-fuel assets account for $744 million. In contrast, 2022's $1.19 billion in total capex included just $316 million for solar and BESS, but $570 million for maintenance on nuclear and fossil-fuel assets.
Subscribers to Industrial Info's GMI Project Database 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 projects from Vistra, and can click here for a full list of reports for active projects from Energy Harbor.
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) platform 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 more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing Vistra's active projects, by project type.Energy Harbor already was undergoing a transformation before its agreement with Vistra: Last year, Energy Harbor announced it would permanently close the remaining coal-fired units at its W.H. Sammis Power Station in Stratton, Ohio, and Pleasants Power Station in Willow Island, West Virginia, by the end of 2023, amounting to more than 3 GW of capacity. Energy Harbor already is in the process of closing an ash pond at the Sammis plant, which services seven coal-fired boilers to comply with carbon combustion residual (CCR) regulations.
Vistra said it will not acquire any part of Energy Harbor's coal-fired fleet. Energy Harbor already has agreed to sell these assets to third parties. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports on the planned decommissioning and dismantlement of the Sammis and Pleasants plants, and the Sammis ash pond closure.
Subscribers can click here for a list of detailed profiles for Energy Harbor's active nuclear plants.
As part of the deal, Energy Harbor also gets a 15% equity interest in Vistra Vision, a new, zero-carbon subsidiary that will own Vistra's nuclear and retail businesses. According to Vistra, the subsidiary will have more than 5 million retail customers across the U.S. and access to a growth pipeline of 1.1 GW of renewable-based power-generation projects. Vistra will own the remaining 85% of Vistra Vision.
"We added over 400 megawatts of renewable and storage capacity in 2022, and we expect to add another 350 megawatts of storage capacity in California at our Moss Landing Phase 3 facility in mid-2023," said Jim Burke, the chief executive officer of Vistra, in a recent quarterly earnings-related conference call. "We also retired approximately 2,900 megawatts of Ohio and Illinois coal facilities at our Zimmer, Joppa and Edwards plants."
Burke was referencing the planned addition of a 350-megawatt (MW), Phase III battery energy-storage system (BESS) at a power plant in Moss Landing, California, which is to be performed by Vistra subsidiary Luminant Generation Company LLC. The addition will bring Moss Landing's total BESS capacity to 750 MW. The subsidiary also is planning upgrades to a pair of heat-recovery steam turbine generators (HRSG) at Moss Landing, to improve their efficiencies and service lives. Subscribers can read detailed reports on the BESS and HRSG projects.
Burke also noted Vistra is planning nine coal-to-solar plant transition projects across Illinois that are expected to be brought online in 2024 and 2025. These include a new solar-power and BESS facility in Coffeen, Illinois, which is expected to generate up to 44 MW from photovoltaic (PV) panels provided by First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona) and store 6 MW via lithium-ion technology. Subscribers can learn more from Industrial Info's detailed project report, and click here for a list of Vistra's solar and BESS projects throughout Illinois.
Solar and BESS projects have surged to the forefront of Vistra's capital-expenditure (capex) program for 2023. Of the $2.02 billion in capex planned for 2023, solar and BESS projects account for $977 million, while maintenance on nuclear and fossil-fuel assets account for $744 million. In contrast, 2022's $1.19 billion in total capex included just $316 million for solar and BESS, but $570 million for maintenance on nuclear and fossil-fuel assets.
Subscribers to Industrial Info's GMI Project Database 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 projects from Vistra, and can click here for a full list of reports for active projects from Energy Harbor.
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) platform 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 more than 200,000 current and future projects worth $17.8 trillion (USD).
