Power generator Vistra pumps $850 million into renewables push in Texas
By Paul O'Donnell, Dallas Morning News
5:06 PM on Sep 29, 2020
Irving-based power generator Vistra plans to break ground on six solar projects and a battery energy storage facility in Texas in an $850 million bet on renewables.
The clean power sources are expected to add nearly 1,000 megawatts of capacity to Vistra’s portfolio of natural gas, nuclear, solar and battery energy storage facilities. The state’s grid operator, the Electric Reliability Council of Texas, estimates that one megawatt of electricity powers about 200 homes during peak demand.
Vistra also said Tuesday that it will close seven coal plants in Illinois and Ohio in its push to eliminate carbon emissions by 2050. The plants’ combined capacity is more than 6.8 gigawatts — accounting for about 8% of total coal-fired generation in the Midwest. A gigawatt is 1,000 megawatts.
The plants will close by 2027, eventually displacing 700 jobs.
“The aggregate impact of these milestone initiatives is clear: Vistra’s commitment to our transformation to a low-to-no-carbon future is unequivocal and offers unique opportunities for growth and innovation,” said CEO Curt Morgan in a statement. “We’ve been focused on transitioning our generation portfolio for the benefit of the environment, our customers, our communities, our people, and our shareholders.”
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