Vistra Energy announced this morning it has entered into an agreement to acquire a 1,054 MW combined cycle, combustion turbine power plant located in Odessa. In addition to expanding Luminant’s fleet of diverse resources and the company’s presence in ERCOT, the Odessa plant allows the company to take advantage of current natural gas prices in the Permian Basin. This acquisition, like the recently announced Upton 2 solar development project in West Texas, continues Vistra’s strategy of disciplined investment in growth opportunities.

Pending the receipt of all necessary government approvals and the fulfillment of all other customary closing conditions, Vistra Energy anticipates the Odessa plant transaction will close in the third quarter of 2017. More details can be found in the news release below.