Phase III of company’s Moss Landing Energy Storage Facility bolsters the Vistra Zero portfolio, strengthens position as industry leader in battery energy storage development and commercialization
Northampton, MA --News Direct-- Vistra
IRVING, Texas, January 25, 2022 /3BLMedia/ - Vistra (NYSE: VST) today announced that it plans to further expand its Moss Landing Energy Storage Facility in Moss Landing, California. The company has entered into a 15-year resource adequacy agreement with Pacific Gas and Electric Company (PG&E) for a new 350-megawatt/1,400-megawatt-hour battery system. This would complement the existing 400 MW/1,600 MWh of energy storage capacity already at the site. On Jan. 21, 2022, PG&E filed its application with the California Public Utilities Commission (CPUC) to approve the contract, with a decision expected within 180 days.
“Through this partnership with PG&E, Vistra is bringing its capabilities and expertise to lead the clean energy transition and provide much-needed electricity to the people of California,” said Curt Morgan, Vistra CEO. “These innovative battery energy storage systems are necessary to maintain electric grid reliability as increasing levels of intermittent renewable power are integrated into the electric grid.”
Like previous phases, Moss Landing Phase III will be able to move quickly due to the utilization of an already-approved development permit and its location on a Vistra-owned power plant site with existing interconnection and infrastructure. At its plant sites in California and across the country, Vistra is leading the way in responsibly reclaiming and repurposing sites that have been historically used for fossil fuels, transforming them with renewables and battery storage, leading to economic activity and tax base for the communities.
Today’s announcement brings the Moss Landing site’s total energy storage capacity to 750 MW/3,000 MWh, the largest of its kind in the world:
· Moss Landing – Phase III (350 MW/1,400 MWh)
Morgan continued, “With this planned expansion, we are moving the Moss Landing site closer to its full potential. With additional phases, this project could eventually reach 1,500 MW – enough to power approximately 1.125 million homes across the state of California with emission-free electricity. Vistra is committed, through our Vistra Zero portfolio, to transitioning the company to address climate change – and our Moss Landing site is a shining example of the pivot of our generation fleet toward carbon-free technologies.”
Pending the receipt of CPUC approval, Vistra anticipates construction on the third phase of the Moss Landing battery energy storage project will commence in May 2022 and will begin commercial operations prior to June 2023.
With a robust pipeline of projects, Vistra plans to grow its zero-carbon Vistra Zero portfolio to 7,300 MW by 2026. This includes 5,000 MW of renewables and energy storage and the company’s 2,300-MW emission-free nuclear facility, Comanche Peak. In addition to its California projects, the company currently has six solar installations and 11 other storage and solar-plus-storage facilities, all in various stages of development and operations in Texas and Illinois. Ahead of this summer, Vistra will bring online its 50-MW Brightside Solar Facility, the 108-MW Emerald Grove Solar Facility, and the 260-MW DeCordova Energy Storage Facility – all in the Texas ERCOT market.
Meranda CohnMedia.Relations@vistracorp.com, 214-875-8004
AnalystsMeagan HornInvestor@vistracorp.com, 214-812-0046
About VistraVistra (NYSE: VST) is a leading Fortune 275 integrated retail electricity and power generation company based in Irving, Texas, providing essential resources for customers, commerce, and communities. Vistra combines an innovative, customer-centric approach to retail with safe, reliable, diverse, and efficient power generation. The company brings its products and services to market in 20 states and the District of Columbia, including six of the seven competitive wholesale markets in the U.S. and markets in Canada and Japan, as well. Serving nearly 4.3 million residential, commercial, and industrial retail customers with electricity and natural gas, Vistra is one of the largest competitive electricity providers in the country and offers over 50 renewable energy plans. The company is also the largest competitive power generator in the U.S. with a capacity of approximately 39,000 megawatts powered by a diverse portfolio, including natural gas, nuclear, solar, and battery energy storage facilities. In addition, Vistra is a large purchaser of wind power. The company owns and operates the 400-MW/1,600-MWh battery energy storage system in Moss Landing, California, the largest of its kind in the world. Vistra is guided by four core principles: we do business the right way, we work as a team, we compete to win, and we care about our stakeholders, including our customers, our communities where we work and live, our employees, and our investors. Learn more about our environmental, social, and governance efforts and read the company's sustainability report at https://www.vistracorp.com/sustainability/.
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