The company will operate Baldwin into 2027, slightly longer than
previously announced
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IRVING,
Texas, Dec. 17, 2024 /PRNewswire/ -- Vistra
(NYSE: VST) today announced that two new utility-scale solar
projects in Illinois have
connected to the grid and that, amid widespread concern over
reliability in the MISO market, it is amending the retirement
schedule of its 1,185-megawatt (MW) Baldwin Power Plant in
Baldwin, Illinois. The company now
intends to run the plant through 2027 instead of retiring in 2025,
as previously announced, while still meeting federal Environmental
Protection Agency retirement and pond closure
obligations.
"Vistra is committed to the responsible transition of our fleet
in Illinois, and in this case, the
most reasonable path forward is to continue to operate the plant as
a reliable bridge to 2027, as we, and others, bring new generation
assets online in the state," said Jim
Burke, president and CEO of Vistra. "As many organizations
have recently raised concerns over reliability and resource
adequacy in central and southern Illinois, we are taking action and delivering
solutions that balance the needs of reliability, affordability, and
sustainability."
With the addition of a new 68-MW utility-scale solar and
2-MW/8-MWh energy storage system, which began generating power this
month, Baldwin is a power
generation hub. The $135-million
investment involved the placement of over 200,000 solar panels
across 420 acres of property the plant has owned and maintained for
decades. The solar generation facility will produce approximately
140,000 MWh of zero-carbon electricity annually over the next 20
years.
The use of multiple technologies at Baldwin, including thermal, solar, and energy
storage, demonstrates the company's commitment to evaluating how to
best leverage the footprint, infrastructure, and transmission
connections already at the plant sites to meet the evolving
electricity needs of customers.
"With more than $1 billion in
projects recently completed or underway across Illinois, we are helping the state attain its
future energy goals consistent with their stated values and
regulations while remaining flexible as we retain reliable baseload
generation to meet customer needs," said Burke. "We know the
decision to operate Baldwin
through 2027 will be welcome news to our dedicated employees, the
Village of Baldwin, and
Randolph County, as the plant has
a tremendous economic impact. We are pleased that Baldwin will provide an opportunity for
employment longer than originally anticipated, providing a benefit
to the families of the plant community."
The 1,185-MW Baldwin Power Plant produces enough electricity to
power approximately 592,500 homes. Approximately 120 employees
operate the Baldwin plant.
Union employees are represented by
IBEW Local 51.
Reusing Plant Sites to Power a Growing Economy
Across the country, Vistra is undertaking a methodical,
site-by-site analysis of its coal fleet to determine the economic
feasibility of repurposing the sites by responsibly retiring some
technologies and renewing the plants with less carbon-intense
generation, including solar and energy storage.
The investment at the Baldwin plant site is part of the
State of Illinois' innovative
Coal to Solar and Energy Storage Initiative, which
encouraged the development of renewable energy assets at existing
power plant sites. Along with Baldwin, Vistra continues to make progress on
other Coal to Solar sites, including:
- The 44-MW solar and 2-MW/8-MWh energy storage facility at the
Coffeen Power Plant site is generating power.
- Construction of the 52-MW solar and 2-MW/8-MWh energy storage
facility at the Newton Power
Plant will begin in 2025.
Separately, as previously announced, construction has begun on a
405-MW utility-scale solar facility that will interconnect at the
company's retired EEI-Joppa Power Plant through a
to-be-constructed approximate 8-mile transmission line.
Since its merger with Dynegy in 2018, Vistra has taken decisive
steps to responsibly operate, retire, and transform its coal plant
fleet in Illinois. The company has
committed to retiring these plants no later than the end of 2027 to
comply with existing federal EPA regulations.
Economic & Fiscal Impact
The Baldwin Power Plant provides significant direct and indirect
economic benefits to the region and state. An economic impact study
projected the plant's direct, indirect, and induced economic
benefits and concluded that within Randolph County, the existing Baldwin plant:
- sustains approximately 298 full-time direct, indirect, and
induced jobs in the area
- generates more than $41 million
in income for local workers in the county
- has a total regional economic output of $262 million
Local governments had been anticipating the plant's property
taxes to decrease after the plant's planned retirement in 2025.
Extending the window of operations will provide additional local
property taxes to help fund essential public services and local
schools.
The new solar facility is expected to generate $6 million in total property tax payments over
the project's life.
About Vistra
Vistra (NYSE: VST) is a leading Fortune 500 integrated retail
electricity and power generation company that provides essential
resources to customers, businesses, and communities
from California to Maine. Based
in Irving, Texas, Vistra is a leader in the energy
transformation with an unyielding focus on reliability,
affordability, and sustainability. The company safely operates a
reliable, efficient, power generation fleet of natural gas,
nuclear, coal, solar, and battery energy storage facilities while
taking an innovative, customer-centric approach to its retail
business. Learn more at vistracorp.com.
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SOURCE Vistra Corp