Vistra completes Energy Harbor acquisition
05 March 2024
The acquisition sees Vistra become the owner of the second-largest competitive nuclear fleet in the USA and the largest competitive power generator in the country.
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US Nuclear Regulatory Commission staff pictured at Vistra's Comanche Peak plant in 2021 (Image: NRC)
The combined company's installed generation capacity of around 41,000 MWe includes four nuclear facilities totalling more than 6,400 MWe, generating enough zero-carbon baseload electricity to power 3.2 million homes according to Vistra. It also lays claim to the second-largest energy storage capacity in the country at 1,020 MWe, including the world's largest battery energy storage facility, and a growing portfolio of solar assets, including some 340 MWe already online.
Energy Harbor's nuclear fleet comprises the two-unit Beaver Valley nuclear power plant in Pennsylvania, as well as the single-unit Davis-Besse and Perry plants in Ohio. Vistra operates the Comanche Peak plant and its used fuel storage facilities in Texas.
"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 prioritise reliable and affordable electricity for the customers we serve," Vistra President and CEO Jim Burke said. "We now own the second-largest competitive nuclear fleet in the US, complementing our existing reliable, flexible, and dispatchable generation assets and our leading retail business."
Texas-based Vistra announced in March that it had executed a definitive agreement with Energy Harbor Corporation on the transaction to combine Energy Harbor's nuclear and retail businesses with Vistra's nuclear and retail businesses and Vistra Zero renewables and storage projects under a newly-formed subsidiary holding company. The new subsidiary, Vistra Vision, will continue to be operated on an integrated basis with the company's dispatchable and reliable fossil fleet, now known as Vistra Tradition.
The combined company's headquarters will be in Irving, Texas,
Researched and written by World Nuclear News