Combination creates leading integrated
zero-carbon generation and retail electricity platform
IRVING,
Texas, March 1, 2024 /PRNewswire/ -- Today,
Vistra (NYSE: VST) announced that it has completed the acquisition
of Energy Harbor Corp., growing its leading integrated zero-carbon
generation and retail electricity business with the addition of
approximately 4,000 megawatts of 24/7 nuclear generation and
approximately 1 million additional retail customers. The
transaction closing follows receipt of all required regulatory
approvals.
"Today's closing represents our commitment to leading a
responsible transformation of the country's energy supply to
greener energy sources through the expansion of our zero-carbon
generation portfolio while continuing to prioritize reliable and
affordable electricity for the customers we serve. We now own the
second-largest competitive nuclear fleet in the U.S., complementing
our existing reliable, flexible, and dispatchable generation assets
and our leading retail business," said Jim
Burke, Vistra president and chief executive officer.
"We remain focused on advancing our four strategic priorities of
reliably serving our customers and communities through our
integrated wholesale and retail business, consistently returning
capital to our shareholders, maintaining our balance sheet
strength, and supporting the clean-energy expansion. This
integration is the next chapter in Vistra's proud 140-year legacy
of powering America, its people, and the economy, and it aligns
squarely with our strategic priorities as we work toward a cleaner
energy future while maintaining the strength and resilience of our
nation's electric grids."
Burke continued, "We are excited to welcome our new colleagues,
expand into new Ohio and
Pennsylvania communities, and
serve our customers' growing energy needs."
The addition of Energy Harbor meaningfully scales Vistra's
existing business. With the transaction complete,
Vistra:
- brings its products and services to market in 20 states and the
District of Columbia, including
all major competitive wholesale power markets in the U.S.
- is the largest competitive power generator in the country,
operating ~41,000 megawatts of installed generation capacity,
including
- four nuclear generation facilities totaling more
than 6,400 MW across ERCOT and PJM markets, generating enough
zero-carbon baseload electricity to power 3.2 million U.S.
homes
- the second-largest energy storage capacity in the
country at ~1,020 MW, including the world's largest battery energy
storage facility
- a growing portfolio of solar assets, including ~340
MW already online
- through its many retail brands, serves approximately 5
million residential, business, and commercial/industrial
customers
- combines its nuclear fleet with its retail business and its
operating renewable and energy storage projects in a subsidiary
called Vistra Vision, which will continue to be operated on an
integrated basis with the company's dispatchable and reliable
fossil fleet in Vistra Tradition– a portfolio backed by more than
20,000 MW of highly efficient natural gas generation capacity
- employs about 6,800 people across the country
The combined company's headquarters will be in Irving, Texas, with regional offices in
Houston; Akron, Cincinnati, and Columbus, Ohio; King
of Prussia, Pennsylvania; and Collinsville and Oak Brook,
Illinois.
About Vistra
Vistra (NYSE: VST) is a leading Fortune 500 integrated retail
electricity and power generation company that provides essential
resources to customers, businesses, and communities from
California to Maine. Based in Irving, Texas, Vistra is a leader in the energy
transformation with an unyielding focus on reliability,
affordability, and sustainability. The company safely operates a
reliable, efficient, power generation fleet of natural gas,
nuclear, coal, solar, and battery energy storage facilities while
taking an innovative, customer-centric approach to its retail
business. Learn more at vistracorp.com.
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SOURCE Vistra Corp