Vistra gets NRC approval to acquire Energy Harbor’s nuclear power plants

Vistra (NYSE: VST) and Energy Harbor have received the Nuclear Regulatory Commission’s (NRC) green light to transfer the operating licenses of Energy Harbor’s three nuclear facilities – Beaver Valley, Davis-Besse, and Perry – to Vistra.

In March, Vistra unveiled its plans to bolster its zero-carbon generation portfolio by acquiring Energy Harbor, which encompasses a 4,000-megawatt nuclear generation fleet and a retail business serving around 1 million customers, pending regulatory approvals.

Jim Burke, President and CEO of Vistra, hailed this development as a pivotal step in the acquisition process. He emphasized Vistra’s robust technical and financial qualifications, exemplified by their 30+ years of experience with the Comanche Peak Nuclear Power Plant. Burke expressed excitement about the opportunity to invest in nuclear power, recognizing its crucial role in the nation’s responsible energy transition as a baseload, carbon-free power source.

The NRC’s meticulous and timely assessment of the license transfer application brings the acquisition one step closer to realization. To seal the deal, Vistra now awaits a decision from the Federal Energy Regulatory Commission (FERC) regarding the approval of the transaction.

Vistra remains committed to finalizing the transaction by year-end, marking another significant stride towards enhancing their clean energy portfolio.