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Vistra Energy expands nuclear capacity with $3.43 billion acquisition of Energy Harbor

  • 1 year, 1 month ago (2023-03-20)
  • David Flin
North America 999 Nuclear 640

Vistra Energy has agreed to acquire Energy Harbor for $3.43 billion, including debt. This acquisition will give Vistra an additional 4000 MW of nuclear capacity. This consists of four units, two at the Beaver Valley nuclear power plant in Pennsylvania, USA, and one each at Davis Besse and Perry nuclear power plants, both in Ohio, USA.

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These four units supply around 33 TWh annually.

As part of the acquisition, Vistra will launch a new nuclear subsidiary called Vistra Vision, which will own all of Vistra’s nuclear and retail businesses.

Jim Burke, CEO of Vistra, said: “With the enactment of the zero-emission nuclear production tax credit, nuclear power generation now has down-side protection against lower power prices, resulting in tremendous upside opportunity compared to other generation with similar attributes.”