Vistra
Compare Vistra…Texas-based independent power producer with ~6 GW of nuclear capacity after the 2024 Energy Harbor acquisition.
SectorsNuclear
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VistraTexas-based independent power producer with ~6 GW of nuclear capacity after the 2024 Energy Harbor acquisition.
| Year | Nuclear MW Added | EBITDA Contribution ($M) | Acquired-Fleet Capacity Factor | Integration Notes | |
|---|---|---|---|---|---|
| FY 2022 (pre-acquisition baseline) | 0 (legacy Vistra Comanche Peak only: 2,400 MW) | Comanche Peak only: ~$280M | Comanche Peak: ~95% | Energy Harbor still independent + separately listed | |
| FY 2023 (deal announced Aug 2023) | 0 (deal closes March 2024) | Comanche Peak only: ~$310M | Comanche Peak: ~94% | Deal economics: $3.43B cash + assumed debt; ~$5,500/kW equivalent capacity cost | |
| FY 2024 (close March 1; 10 months Energy Harbor) | +4,048 MW (Beaver Valley 1+2 + Davis-Besse + Perry) | Total nuclear: ~$650M (Comanche Peak + 10 mo EH) | Comanche Peak: ~95%; EH fleet: ~92% | Integration ongoing; consolidated reporting from March | |
| FY 2025 plan (first full year) | 6,448 MW total nuclear capacity | Total nuclear: ~$1.1B+ (full year EH at improved CF + capacity pricing) | Combined fleet target: ~94% | Capacity factor optimization + PJM capacity-market upside | |
| FY 2026 target | 6,448 MW (no further nuclear additions planned) | Total nuclear: ~$1.3B+ stated target | Combined fleet target: ~95% | Full Energy Harbor synergy realization year | |
| Editorial. Why this matters | Strategic context | Energy Harbor was the marquee merchant-nuclear M&A deal of the 2020s + the contract that transformed Vistra from a primarily gas + renewables IPP into the second-largest US nuclear operator. The 2023 announcement timing (pre-AI-power demand surge) means VST captured the assets at structurally low multiples. Marquee question: does Vistra realize the targeted $1.0B+ annualized EBITDA from the acquired fleet by FY2026, validating the deal's mid-cycle timing? |
2021-Q2-2026-Q1
2021-Q2-2026-Q1
2017-2025
$VST
Texas-based independent power producer with ~6 GW of nuclear capacity after the 2024 Energy Harbor acquisition (Beaver Valley, Davis-Besse, Perry). Comanche Peak nuclear plant in talks for hyperscaler deal as of 2025.