Vistra Energy (NYSE: VST), the parent company for TXU Energy and Luminant, today announced the purchase of the Upton County Solar 2 development project in West Texas. The purchase delivers on the company's strategic plan to further strengthen and expand its integrated businesses through enhanced retail solar offerings and diversity across its generation fleet.
Simultaneous with the acquisition of the project, Upton 2 entered into a turnkey, fixed-price, engineering, procurement, and construction contract to deliver the 180-megawatt solar plant in the summer of 2018. The Upton 2 facility will provide a company-owned asset as a platform for offering significant, long-term, and economically viable renewable options to a variety of customers throughout Texas, including commercial, industrial, and residential customers.
"This purchase is an additional proof point of Vistra Energy's ability to uniquely couple our retail business with our commercial operations in a meaningful and beneficial way," said Curt Morgan, the company's president and chief executive officer. "It also shows our commitment to expand this model while providing significant advantages compared to a standalone retailer or generator."