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Released August 10, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--On Wednesday, Vistra Corporation (NYSE:VST) (Irving, Texas) provided an update on its clean-energy transition. The company reported $963 billion in capital expenditures (capex) in the first half of 2023, including $664 million for solar and energy storage development. In addition, Vistra expects its acquisition of Energy Harbor (Akron, Ohio), which operates the second-largest non-regulated nuclear fleet in the U.S., will close in the fourth quarter.
In a press release on Vistra's second-quarter earnings, President and Chief Executive Officer Jim Burke, said, "We simultaneously are focused on the long-term energy transition this industry faces. We remain committed to disciplined growth of our zero-carbon portfolio while focusing on grid reliability."
One of those growth efforts is the Energy Harbor acquisition, which Burke said will increase Vistra's nuclear generation fleet to more than 6,400 megawatts (MW). Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here to see a list of Energy Harbor's active nuclear plants. For more information, see Industrial Info's March 7, 2023, article - Vistra Nabs Nuclear, Solar, Storage Assets in Energy Harbor Deal.
In terms of growth projects, Burke highlighted the addition of 350 MW of energy storage to Vistra's portfolio via a new battery energy storage system (BESS) at its Moss Landing power plant in Monterey County, California, which brings Vistra's operational zero-carbon energy portfolio to 3,750 MW. The addition at Moss Landing increases the storage facility's BESS capacity to 750 MW, which makes it the largest BESS facility in the U.S., according to the U.S. Energy Information Administration (EIA). Subscribers to the GMI Project Database can click here for the project report.
In the press release, the company said, "Vistra intends to remain strategic and disciplined with respect to the timing of investments in renewables and battery storage projects. Overall, continued development of the renewables and battery storage portfolio is expected to be financed primarily with third-party capital."
Vistra expects a series of BESS and solar-plus-storage projects in Illinois, all of which feature a capacity under 100 MW, will kick off in the fourth quarter or next year. This includes a 37-MW BESS addition at its E.D. Edwards power plant in Peoria, and a 37-MW BESS at the site of the former Havana Power Station in Mason County, both of which are expected to wrap up in March. Subscribers can see detailed reports on the Peoria and Mason County projects.
Three grassroot solar-plus-storage projects include the combined 58-MW Newton solar farm and BESS; the 68-MW Kincaid solar farm and BESS; and the 50-MW Coffeen solar farm and BESS. The Coffeen project will utilize photovoltaic (PV) solar panels supplied by First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona). Subscribers can read reports on the Newton, Kincaid and Coffeen projects.
Vistra's energy transition efforts are not just focused on renewables. The company also is looking into a proposed carbon capture and sequestration (CCS) project at its Oak Grove Generating Station in Franklin, Texas, which would eliminate 10,000 of the 13,000 tons of carbon dioxide (CO2) produced each day at the 1,795-MW, coal-fired facility. The project is in its preliminary stages, where plenty of factors can delay or alter any eventual investment. Click here for more information.
This is just one CCS project in a wide swath of proposed and ongoing CCS investments popping up in the U.S. and across the globe. For more information, see August 1, 2023, article - Big Push in CCS Spending Overshadows Concerns About Its Green Potential, and July 10, 2023, article - Big Spending Plans for CCS May Fall Short of What's Needed for Net Zero.
Vistra reported net income of $476 million for the second quarter, compared with a loss of $1.35 billion year-over-year; net income of $1.17 billion in the first half of the year was up from a loss of $1.64 billion in the same period in 2022.
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.
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).
In a press release on Vistra's second-quarter earnings, President and Chief Executive Officer Jim Burke, said, "We simultaneously are focused on the long-term energy transition this industry faces. We remain committed to disciplined growth of our zero-carbon portfolio while focusing on grid reliability."
One of those growth efforts is the Energy Harbor acquisition, which Burke said will increase Vistra's nuclear generation fleet to more than 6,400 megawatts (MW). Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here to see a list of Energy Harbor's active nuclear plants. For more information, see Industrial Info's March 7, 2023, article - Vistra Nabs Nuclear, Solar, Storage Assets in Energy Harbor Deal.
In terms of growth projects, Burke highlighted the addition of 350 MW of energy storage to Vistra's portfolio via a new battery energy storage system (BESS) at its Moss Landing power plant in Monterey County, California, which brings Vistra's operational zero-carbon energy portfolio to 3,750 MW. The addition at Moss Landing increases the storage facility's BESS capacity to 750 MW, which makes it the largest BESS facility in the U.S., according to the U.S. Energy Information Administration (EIA). Subscribers to the GMI Project Database can click here for the project report.
In the press release, the company said, "Vistra intends to remain strategic and disciplined with respect to the timing of investments in renewables and battery storage projects. Overall, continued development of the renewables and battery storage portfolio is expected to be financed primarily with third-party capital."
Vistra expects a series of BESS and solar-plus-storage projects in Illinois, all of which feature a capacity under 100 MW, will kick off in the fourth quarter or next year. This includes a 37-MW BESS addition at its E.D. Edwards power plant in Peoria, and a 37-MW BESS at the site of the former Havana Power Station in Mason County, both of which are expected to wrap up in March. Subscribers can see detailed reports on the Peoria and Mason County projects.
Three grassroot solar-plus-storage projects include the combined 58-MW Newton solar farm and BESS; the 68-MW Kincaid solar farm and BESS; and the 50-MW Coffeen solar farm and BESS. The Coffeen project will utilize photovoltaic (PV) solar panels supplied by First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona). Subscribers can read reports on the Newton, Kincaid and Coffeen projects.
Vistra's energy transition efforts are not just focused on renewables. The company also is looking into a proposed carbon capture and sequestration (CCS) project at its Oak Grove Generating Station in Franklin, Texas, which would eliminate 10,000 of the 13,000 tons of carbon dioxide (CO2) produced each day at the 1,795-MW, coal-fired facility. The project is in its preliminary stages, where plenty of factors can delay or alter any eventual investment. Click here for more information.
This is just one CCS project in a wide swath of proposed and ongoing CCS investments popping up in the U.S. and across the globe. For more information, see August 1, 2023, article - Big Push in CCS Spending Overshadows Concerns About Its Green Potential, and July 10, 2023, article - Big Spending Plans for CCS May Fall Short of What's Needed for Net Zero.
Vistra reported net income of $476 million for the second quarter, compared with a loss of $1.35 billion year-over-year; net income of $1.17 billion in the first half of the year was up from a loss of $1.64 billion in the same period in 2022.
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.
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).
