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.

SOURCE Vistra Corp