Vistra says it will build two new advanced natural gas power units at its Permian Basin Power Plant in West Texas, adding 860 MW of capacity to a petroleum-rich region that is rapidly undergoing an electrification transformation. 

The two units will triple the Permian Basin facility’s current capacity from 325 MW to 1,185 MW. The site currently has five combustion turbines, each about 65 MW.  

The new gas units are part of Vistra’s plan to add up to 2,000 additional MW of gas-fueled dispatchable power in ERCOT by 2028.  

“Given Vistra’s fleet, interconnections and experience in improving, redeveloping and building power plants, we are uniquely positioned to deliver solutions that provide reliable, affordable power to our residential customers, as well as industries across Texas and the United States,” Vistra CEO Jim Burke said in a Sept. 29 press release. 

The Irving, Texas-based company said that in 2024, it identified more than $1 billion worth of potential capital additions in generation capacity within the ERCOT market, if market conditions were “supportive.” It added about 1 GW of new generation capacity between 2020 and 2023 by increasing the gas fleet’s output and bringing three new projects into commercial operation. 

“Vistra’s bold investment in the Permian Basin will reinforce our state’s electric grid, spur jobs and drive regional economic growth for years to come,” Texas Gov. Greg Abbott said in the release. 

Vistra said it has made “significant progress” on other projects announced since the summer of 2024, including:  

• • Completing upgrades at gas plants that have added more than 400 MW of capacity across its Texas fleet.
  • Plans to repower its Coleto Creek Power Plant — a coal plant scheduled for retirement in 2027 — as a 630-MW gas-fired unit.
  • Nearly completing a 200-MW solar project on the site of a retired and reclaimed lignite mine, with commercial operations expected by year’s end. 

When the projects are completed, Vistra will have invested nearly $2 billion to add about 3,100 MW of new generation capacity in the state since 2020.

Nuclear Power PPA Signed

Vistra also said in an 8K filed Sept. 29 with the Securities and Exchange Commission that it has entered into a 20-year power purchase agreement with a “large, investment-grade” company for 1,200 MW of power from its Comanche Peak nuclear plant. 

The company expects power delivery to begin in the fourth quarter of 2027 and ramp to full capacity by 2032. 

Vistra declined further comment on the counterparty or the PPA. A spokesperson said the counterparty is finalizing its plans and it will share further details when they are available. 

Bank of America Securities said in a research report that it estimates the PPA will price around $105 to $120/MWh, with a midpoint of about $112/MWh.