Approval marks important milestone in
acquisition process
IRVING,
Texas, Sept. 29, 2023 /PRNewswire/ -- Vistra
(NYSE: VST) and Energy Harbor today received approval from the
Nuclear Regulatory Commission (NRC) to transfer the operating
licenses of Energy Harbor's three nuclear plants – Beaver Valley,
Davis-Besse, and Perry – to Vistra.
Vistra announced in March that it intended to accelerate
the growth of its zero-carbon generation portfolio through the
purchase of Energy Harbor, including its 4,000-megawatt nuclear
generation fleet and retail business of ~1 million customers,
pending regulatory approvals.
"This is an important step in the acquisition process and is
evidence of Vistra's strong technical and financial qualifications,
as we have demonstrated over the past 30+ years with our Comanche
Peak Nuclear Power Plant," said Jim
Burke, Vistra president and CEO. "We are excited about this
opportunity to invest in nuclear power, which plays a critical and
unique role in our nation's responsible energy transition as a
baseload, carbon-free source of power."
The NRC's thorough and timely review of the license transfer
application brings this transaction closer to completion. To
finalize the acquisition, Vistra awaits a decision from the Federal
Energy Regulatory Commission (FERC) on its request for approval of
the transaction.
Vistra continues to target closing the transaction before the
end of the year.
About Vistra
Vistra (NYSE: VST) is a leading Fortune 500 integrated retail
electricity and power generation company based in Irving, Texas, providing essential resources
for customers, commerce, and communities. With operations in 20
states and the District of
Columbia, Vistra combines an innovative, customer-centric
approach to retail with safe, reliable, diverse, and efficient
power generation. Learn more at vistracorp.com.
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SOURCE Vistra Corp.