DALLAS, May 17, 2017 /PRNewswire/ -- 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."
A Key Retail Platform
- Businesses, school districts, cities, and other large customers have already expressed strong interest in projects such as
this that help meet their sustainability goals.
- Consistent with our retail business model, TXU Energy has a strong history of offering market-leading and innovative solar products
for businesses and homes, including the recently announced Free
Nights & Solar DaysSM plan, the TXU Solar Club plan, the TXU Energy Solar Advantage plan, and TXU Energy
Solar for Business.
- The Upton 2 project is a financially attractive option under Vistra's integrated business
model, thanks to steady growth in consumer enthusiasm, the geographic characteristics and strong solar irradiance in
West Texas, and technological advancements.
An Excellent Addition to Luminant's Fleet
- The company adds solar capacity to its already diverse energy mix, which includes coal, natural gas, and nuclear power, as
well as significant purchases of wind-generated electricity.
- Luminant will ultimately operate and be the qualified scheduling entity for the plant, creating additional commercial
options for the generator.
Project Information
- Utility-scale solar project located in Upton
County, Texas.
- 180 MW of installed capacity.
- The Upton 2 solar facility is the largest by capacity in Texas.
- Capacity to power approximately 56,700 average residences in ERCOT during normal weather conditions and 27,700 during
periods of hot and high-demand conditions.
- Approximately 500 construction jobs.
Media
Allan Koenig
214-875-8004
Media.Relations@vistraenergy.com
Analysts
Molly Sorg
214-812-0046
Investor@vistraenergy.com
Additional Information
Vistra Energy has filed with the Securities Exchange Commission (the SEC) a registration statement on Form S-1 under the
Securities Act with respect to resales of the shares of our common stock offered thereunder. Upon the effectiveness of the
registration statement, which we expect to be prior to May 10, 2017, we will be subject to the
information and periodic reporting requirements of the Securities and Exchange Act and, in accordance therewith, will file
periodic reports, proxy statements and other information with the SEC. A copy of the registration statement, the exhibits
and schedules filed with the registration statement, and future periodic reports, proxy statements, and other filings may be
inspected without charge at the public reference room maintained by the SEC, located at 100 F Street, N.E., Washington, D.C. 20549, and copies of all or any part of the registration statement or other filings may be
obtained upon the payment of the fees prescribed by the SEC. Please call the SEC at 1-800-SEC-0330 for further information about
the public reference room. The SEC also maintains an Internet website that contains reports, proxy and information
statements and other information regarding registrants that file electronically with the SEC. The address of the website is
www.sec.gov.
Vistra Energy maintains a website at www.vistraenergy.com. You
may access our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those
reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act with the SEC free of charge at our website as
soon as reasonably practicable after such material is electronically filed with, or furnished to, the SEC. However, the
reference to our web address does not constitute incorporation by reference of the information contained at such site.
About Vistra Energy
Vistra Energy is a premier Texas-based energy company focused on the competitive energy and power generation markets
through operation as the largest retailer of electricity and generator in the growing Texas market. Our integrated
portfolio of competitive businesses consists primarily of TXU Energy and Luminant. TXU Energy sells retail electricity and
value-added services (primarily through our market-leading TXU Energy™ brand) to approximately 1.7 million residential and
business customers in Texas. Luminant generates and sells electricity and related products from our diverse fleet of
generation facilities totaling approximately 17,000 MW of generation in Texas, including approximately 2,300 MW fueled by
nuclear power, 8,000 MW fueled by coal and 6,000 MW fueled by natural gas, and is a large purchaser of wind-generated
electricity.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements, which are subject to risks and uncertainties. All statements,
other than statements of historical facts, are forward-looking statements. These statements are often, but not always, made
through the use of words or phrases such as "may," "should," "could," "predict," "potential," "believe," "will likely result,"
"expect," "continue," "will," "shall," "anticipate," "seek," "estimate," "intend," "plan," "project," "forecast," "goal,"
"target," "would" and "outlook," or the negative variations of those words or other comparable words of a future or
forward-looking nature. Readers are cautioned not to place undue reliance on forward-looking statements. Although Vistra Energy
believes that in making any such forward-looking statement, Vistra Energy's expectations are based on reasonable assumptions, any
such forward-looking statement involves uncertainties and is qualified in its entirety by reference to the discussion of risk
factors under "Risk Factors" and the discussion under "Management's Discussion and Analysis of Financial Condition and Results of
Operations" in the registration statement on Form S-1 filed by Vistra Energy and other important factors that could cause actual
results to differ materially from those implied by such forward-looking statements, including changes in
the Texas energy market; economic, regulatory and environmental conditions; and any strategies Vistra Energy
employs to pursue growth opportunities in any particular market.
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SOURCE Vistra Energy