Shares of the company rose nearly 5% in extended trading.
The deal includes about $2.3 billion in cash, $900 million in Vistra stock and the assumption of $1.5 billion in debt, partly offset by expected tax benefits, the Texas-based electricity producer said.
This acquisition follows Vistra’s $1.9 billion deal in May 2025 for seven gas-fired plants with nearly 2,600 megawatts of combined capacity from Lotus Infrastructure Partners.
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The U.S. Energy Information Administration estimates electricity consumption in the country to reach record highs in 2026, driven by surging demand from data centers racing to support Big Tech’s growing AI ambitions.
The acquisition includes three combined cycle gas turbine facilities, two combustion turbine facilities located across PJM, four combined cycle gas turbine facilities in ISO New England and one cogeneration facility in ERCOT.
“The addition of this natural gas portfolio is a great way to start another year of growth for Vistra as we’ve completed, acquired, or developed projects in each of the competitive power regions where we operate,” said Vistra CEO Jim Burke.
The acquisition will diversify and expand Vistra’s geographic footprint by adding 5,500 megawatts of net capacity across some of the major power regions in North America.
The transaction is expected to close in mid-to-late 2026.
(Reporting by Yagnoseni Das in Bengaluru; Editing by Shilpi Majumdar and Alan Barona)
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