IRVING, Texas, Dec. 1, 2021 /PRNewswire/ -- Vistra (NYSE:
VST) announced today the publication of its Green Finance
Framework, supported by a second-party opinion from V.E (formerly
Vigeo Eiris), part of Moody's ESG Solutions. The Framework allows
Vistra to issue green financial instruments to fund new or existing
projects that support renewable energy and energy efficiency, as
defined in the Framework, with alignment to the company's
environmental, social, and governance (ESG) strategy.
Vistra is actively engaged in the global effort to mitigate the
impacts of climate change through the reduction of greenhouse gas
emissions across business activities and the transformation of the
company's power generation fleet. Through the announced retirement
of the majority of its coal plants and investments in carbon-free
resources and new technologies, Vistra will continue progressing
towards its target of net-zero carbon emissions by 2050.
"Vistra's Green Finance Framework reflects our commitment to
combat climate change and strengthens our investment strategy,"
said Curt Morgan, Vistra's chief
executive officer. "Investing in our attractive retail and
zero-carbon businesses with cost-efficient capital is a key
priority for Vistra. We expect to grow Vistra Zero, our zero-carbon
generation portfolio, to more than 5,000 MW of renewables and
storage assets by 2026, in addition to our 2,300 MW nuclear
facility, supporting the broader energy transition of the
nation, maintaining the reliability and affordability of
electricity, and enhancing the long-term sustainability of the
company."
Vistra Zero, already has a robust and growing pipeline of
carbon-free renewables and battery storage,
including:
- Over 2,800 MW1 of zero-carbon generation
online
- Nearly 2,000 MW of solar or battery storage under construction
or in development
- More than 3,000 MW of zero-carbon assets in the development
pipeline
The Framework, which is aligned with the four core components of
the ICMA's Green Bond Principles 2021 and the LMA's Green Loan
Principles 2021, supports further investments in these projects and
promotes Vistra's transition to clean energy. The Framework and
corresponding second-party opinion can both be found here.
(1) Includes Comanche Peak Nuclear Power Plant in addition to
solar and battery storage facilities.
About Vistra
Vistra (NYSE: VST) is a leading, Fortune 275 integrated retail
electricity and power generation company based in Irving, Texas, providing essential resources
for customers, commerce, and communities. Vistra combines an
innovative, customer-centric approach to retail with safe,
reliable, diverse, and efficient power generation. The company
brings its products and services to market in 20 states and the
District of Columbia, including
six of the seven competitive wholesale markets in the U.S. and
markets in Canada and Japan, as well. Serving nearly 4.3 million
residential, commercial, and industrial retail customers with
electricity and natural gas, Vistra is one of the largest
competitive residential electricity providers in the country and
offers over 50 renewable energy plans. The company is also the
largest competitive power generator in the U.S., with a capacity of
approximately 39,000 megawatts powered by a diverse portfolio,
including natural gas, nuclear, solar, and battery energy storage
facilities. In addition, Vistra is a large purchaser of wind power.
The company owns and operates a 400-MW/1,600-MWh battery energy
storage system in Moss Landing,
California, the largest of its kind in the world. Vistra is
guided by four core principles: we do business the right way, we
work as a team, we compete to win, and we care about our
stakeholders, including our customers, our communities where we
work and live, our employees, and our investors. Learn more about
our environmental, social, and governance efforts and read the
company's sustainability report
at https://www.vistracorp.com/sustainability/.
Cautionary Note Regarding Forward-Looking
Statements
The information presented herein includes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements, which are based on current expectations, estimates and
projections about the industry and markets in which Vistra Corp.
("Vistra") operates and beliefs of and assumptions made by Vistra's
management, involve risks and uncertainties, which are difficult to
predict and are not guarantees of future performance, that could
significantly affect the financial results of Vistra. All
statements, other than statements of historical facts, that are
presented herein, or in response to questions or otherwise, that
address activities, events or developments that may occur in the
future, including such matters as activities related to our
financial or operational projections, the potential impacts of the
COVID-19 pandemic on our results of operations, financial condition
and cash flows, projected synergy, value lever and net debt
targets, capital allocation, capital expenditures, liquidity,
projected Adjusted EBITDA to free cash flow conversion rate,
dividend policy, business strategy, competitive strengths, goals,
future acquisitions or dispositions, development or operation of
power generation assets, market and industry developments and the
growth of our businesses and operations (often, but not always,
through the use of words or phrases, or the negative variations of
those words or other comparable words of a future or
forward-looking nature, including, but not limited to: "intends,"
"plans," "will likely," "unlikely," "believe," "confident",
"expect," "seek," "anticipate," "estimate," "continue," "will,"
"shall," "should," "could," "may," "might," "predict," "project,"
"forecast," "target," "potential," "goal," "objective," "guidance"
and "outlook"), are forward-looking statements. Readers are
cautioned not to place undue reliance on forward-looking
statements. Although Vistra believes that in making any such
forward-looking statement, Vistra's expectations are based on
reasonable assumptions, any such forward-looking statement involves
uncertainties and risks that could cause results to differ
materially from those projected in or implied by any such
forward-looking statement, including, but not limited to: (i)
adverse changes in general economic or market conditions (including
changes in interest rates) or changes in political conditions or
federal or state laws and regulations; (ii) the ability of Vistra
to execute upon its contemplated strategic, capital allocation,
performance, and cost-saving initiatives and to successfully
integrate acquired businesses; (iii) actions by credit ratings
agencies; (iv) the severity, magnitude and duration of pandemics,
including the COVID-19 pandemic, and the resulting effects on our
results of operations, financial condition and cash flows; (v) the
severity, magnitude and duration of extreme weather events
(including Winter Storm Uri),
contingencies and uncertainties relating thereto, most of which are
difficult to predict and many of which are beyond our control, and
the resulting effects on our results of operations, financial
condition and cash flows; and (vi) those additional risks and
factors discussed in reports filed with the Securities and Exchange
Commission by Vistra from time to time, including the uncertainties
and risks discussed in the sections entitled "Risk Factors" and
"Forward-Looking Statements" in Vistra's annual report on Form 10-K
for the year ended December 31, 2020
and any subsequently filed quarterly reports on Form 10-Q.
Any forward-looking statement speaks only at the date on which
it is made, and except as may be required by law, Vistra will not
undertake any obligation to update any forward-looking statement to
reflect events or circumstances after the date on which it is made
or to reflect the occurrence of unanticipated events. New factors
emerge from time to time, and it is not possible to predict all of
them; nor can Vistra assess the impact of each such factor or the
extent to which any factor, or combination of factors, may cause
results to differ materially from those contained in any
forward-looking statement.
Disclaimers
This press release and the Framework do not constitute or form
part of, and should not be construed as, an offer to purchase or an
invitation to sell securities of Vistra (or its subsidiaries) or
the solicitation of an offer to purchase securities of Vistra, and
nothing contained herein or therein shall form the basis of or be
relied on in connection with any contract or commitment. Any
decision to purchase any securities of Vistra should be made solely
on the basis of the information to be contained in the offering
documents produced in connection with the offering of such
securities.
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SOURCE Vistra Corp.