Vistra also intends to retire all of its coal power plants in Illinois and Ohio, to speed up its clean energy transition
Vistra to invest in clean energy. (Credit: Michael Schwarzenberger from Pixabay.)
US-based integrated retail electricity and power generation company Vistra has unveiled plans to build new 1GW renewable energy projects in the country.
The new plans are part of its efforts to move to clean power generation and reduce carbon footprint.
The company has introduced Vistra Zero, a portfolio of zero-carbon power generation facilities, including seven new projects in its primary market of The Electric Reliability Council of Texas (ERCOT) that total nearly 1GW.
The seven projects are expected to see a capital investment of approximately $850m.
In addition, the company has announced its intention to retire all of its coal plants in Illinois and Ohio.
Vistra president and CEO Curt Morgan said: “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.
“As evidenced by the actions we take and investments we make, Vistra is paving its way for a sustainable future, economically and environmentally – and we’ve been focused on transitioning our generation portfolio for the benefit of the environment, our customers, our communities, our people, and our shareholders.”
Vistra will build six new solar projects and one battery energy storage project
The company has started construction of six new solar projects and one battery energy storage project, as part of the newly launched Vistra Zero portfolio.
The new projects include the 100MW Andrews Solar Facility in Andrews County, the 50MW Brightside Solar Facility in Live Oak County, the 108MW Emerald Grove Solar Facility in Crane County, and the 10MW Phase III Upton 2 Solar and Energy Storage Facility in Upton County.
The renewable power generation projects are expected to be online in 2021.
With the new projects, the Vistra Zero portfolio now includes approximately 4GW of zero-carbon assets, according to the company.
Morgan added: “Importantly, Vistra’s leadership on these issues will not impact our core mission to provide consumers with reliable, affordable, and sustainable energy while lowering emissions. Electricity is an essential resource, and the demand for it will continue to grow as climate initiatives are implemented and the economy is further electrified.
“So, while the way we produce electricity is changing, our essential role in the process and core mission will not. Vistra is well-positioned to not only prove our resiliency during this important transformation to cleaner generation sources, but to lead the way.