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Vistra To Acquire 2,600 MW In Natural Gas Generating Assets, Mostly In Northeast
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Vistra Corp. today announced that it has executed a definitive agreement to acquire seven natural gas generation facilities, totaling approximately 2,600 MW of capacity, from Lotus Infrastructure Partners ("Lotus").
The acquisition includes five combined cycle gas turbine facilities and two combustion turbine facilities, located across PJM, New England, New York, and California
The assets to be acquired are below:
Vistra is acquiring these assets for $1.9 billion or approximately $743/kW, subject to certain net working capital adjustments, which Vistra called an, "attractive price".
"The acquisition is expected to deliver immediate benefits to Vistra shareholders, including Ongoing Operations AFCFbG1 per share accretion. Vistra expects to fund the transaction with the assumption of an existing term loan from Lotus and cash on hand. Although the principal amount of the term loan to be assumed is subject to change, it is currently expected to be approximately 50% of the consideration at closing. The purchase price implies a multiple of approximately 7x 2026 Adjusted EBITDA, excluding any potential synergies," Vistra said
The transaction is subject to certain regulatory approvals, including the Federal Energy Regulatory Commission and the Department of Justice under the Hart-Scott-Rodino Act, and is expected to close sometime in late 2025 or early 2026.
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May 15, 2025
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Copyright 2025 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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