Texas-based energy company Vistra is expanding its Permian Basin Power Plant in Texas by building two new advanced natural gas power units totalling 860 megawatts (MW), more than tripling the site’s existing capacity from 325 MW to 1185 MW. This decision follows a 2024 plan identifying over $1 billion in potential capital investments to enhance Texas ERCOT market reliability by 2028.
The expansion responds to rising electricity demand, notably from West Texas’ growing oil and natural gas sectors, and marks a key part of Vistra’s long-term strategy to add over 2000 MW of new generation capacity in Texas by 2028.
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Since 2020, Vistra has invested nearly $2 billion to add approximately 3100 MW of generation capacity in Texas. This growth includes upgrades to existing gas plants that added 400 MW, the development of a new 200 MW solar project at Oak Hill on a reclaimed lignite mine site, and the repowering of the Coleto Creek coal plant, converting it into a dispatchable natural gas facility with a capacity of around 630 MW. These initiatives contribute to enhancing grid reliability and addressing increasing power demands across the state.
The company stressed its strong capability to deliver reliable and cost-effective power through its extensive and diverse generation fleet. Vistra’s experience in managing a broad portfolio of energy assets enables it to meet the evolving electricity demands in Texas, supporting the state’s economic growth and grid stability.
Texas Governor Greg Abbott highlighted Vistra’s investment as a key factor in reinforcing the state’s electric grid while stimulating job creation and driving regional economic growth. This comprehensive approach underpins Vistra’s commitment to powering Texas and supporting its energy security for years to come.
This expansion aligns with Vistra’s broader strategy of balancing natural gas infrastructure, solar, and battery energy storage to support grid reliability and decarbonisation goals, including a 60% reduction in CO2e emissions by 2030. The new units will help meet the needs of diverse customers and bolster economic competitiveness and national energy security while addressing grid challenges pronounced in recent years.
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By GlobalData
