About a month ago, Vistra unveiled its new clean-energy strategy to investors, along with a new climate report. Edwards Power Station stands on the banks of the Illinois River in Bartonville, Illinois. The formerly fossil fuel-heavy Vistra also doubled-down on its recent bid to reinvent itself as a renewable energy and battery company. Morgan recalled how Vistra’s predecessor company, TXU Corp., proposed 11 new coal-fired power plants for Texas in 2006. Almost three-fourths of the new clean electricity will be headed to the Dallas-Fort Worth region. Most of the initial spending, about $850 million, will go toward seven solar projects in Texas, which are expected to be online within two years. It’s investing in seven. And it has “a firm target to get to net zero emissions by 2050,” although that assumes advancements in technology and changes to public policy. I cover the energy industry, with a focus on fossil fuels. Vistra’s plan to transform the company starts by retiring coal plants and accelerating the reduction of greenhouse gas emissions. By signing up you agree to our privacy policy, Stand with us in our mission to discover and uncover the story of North Texas. And many big power buyers, such as data centers for Facebook and Google, want to buy clean energy because sustainability is important to their employees and communities. Vistra (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. © 2020 Forbes Media LLC. Five of the seven coal plants Vistra named are in Illinois. Since 2016 Vistra and its subsidiaries have closed or announced the closure of 19 coal plants totaling more than 16 gigawatts across Texas, Pennsylvania, Ohio, Illinois, and Massachusetts. Want to know how much your North Texas neighbors gave to Donald Trump and Joe Biden. Meranda Cohn Molly Sorg But coal’s share will fall from 29% to 10% by 2030. The coal plants slated for closure account for 6.8 gigawatts of generation capacity — equal to around 15% of Illinois' total power capacity. Institutional investors, such as Vanguard, Fidelity Investments and State Street Global Advisors, are putting more emphasis on companies' climate disclosures and policies. Vistra is already developing the world's largest battery energy storage project, the 400-megawatt Moss Landing Energy Storage Facility in California. And the Southern Illinois Power Cooperative (SIPC) owns at least one coal power station. Copyright © 2020 The Dallas Morning News. Texas already generates more power than any state — almost twice as much as runner-up Florida. You may opt-out by. Trump saw this as a gotcha moment, perhaps because Texas is easily the nation’s top producer of oil and natural gas. I graduated from the London School of Economics with a masters degree in 2017. The Texas market, which accounts for almost half of Vistra’s generation, has several advantages.

Sergey Khachatryan Married, Arthur Ashe Stadium Capacity, Nelson Mandela Achievements, Northeast Animal Shelter, Teachers Day Quotes For 3rd Standard,