Home Framework Vistra launches green finance framework | Texas News

Vistra launches green finance framework | Texas News

0


[ad_1]

IRVING, Texas, December 1, 2021 / PRNewswire / – Vistra (NYSE: VST) today announced the release of its Green Funding Framework, supported by a second party opinion from VE (formerly Vigeo Eiris), which is part of Moody’s ESG Solutions. The Framework allows Vistra to issue green financial instruments to finance new or existing projects that support renewable energy and energy efficiency, as defined in the Framework, in accordance with the environmental, social and governance (ESG) strategy. of the company.

Vistra is actively engaged in the global effort to mitigate the impacts of climate change through the reduction of greenhouse gas emissions across all business activities and the transformation of the company’s power generation fleet. business. With the announced retirement of the majority of its coal-fired power plants and investments in carbon-free resources and new technologies, Vistra will continue to make progress towards its goal of net zero carbon emissions by 2050.

“Vistra’s green finance framework reflects our commitment to tackle climate change and strengthens our investment strategy,” said Curt Morgan, CEO of Vistra. “Investing in our attractive, zero-carbon retail operations with profitable capital is a key priority for Vistra. We plan to grow Vistra Zero, our zero-carbon generation portfolio, to over 5,000 MW of renewable energy and storage assets by 2026, in addition to our 2,300 MW nuclear facility, supporting the transition energy sector, maintaining the reliability and affordability of electricity and improving the long-term sustainability of the business. “

Vistra Zero, already has a strong and growing pipeline of carbon-free renewable energy and battery storage, including:

  • Over 2,800 MW1 zero carbon production line
  • Nearly 2,000 MW of solar or battery storage under construction or under development
  • More than 3,000 MW of zero carbon assets in the development pipeline

The framework, which is aligned with the four core components of ICMA’s 2021 Green Bond Principles and LMA’s 2021 Green Lending Principles, supports new investments in these projects and promotes Vistra’s transition to clean energy. . Both the framework and the corresponding second-party opinion can be found here.

(1) Includes the Comanche Peak nuclear power plant in addition to solar and battery storage facilities.

On Vistre

Vistra (NYSE: VST) is a leading integrated power generation and power generation company, Fortune 275, based in Irving, Texas, providing essential resources for customers, commerce and communities. Vistra combines an innovative, customer-centric approach to retailing with safe, reliable, diverse and efficient power generation. The company markets its products and services in 20 states and the District of Colombia, including six of the seven competitive wholesale markets in the United States and Canada and Japan, also. Serving nearly 4.3 million residential, commercial and industrial retail electricity and natural gas customers, Vistra is one of the nation’s largest competitive residential electricity providers with more than 50 renewable energy plans. The company is also the largest competitive power producer in the United States, with approximately 39,000 megawatts of capacity fueled by a diverse portfolio, including natural gas, nuclear, solar and battery energy storage facilities. In addition, Vistra is a large buyer of wind power. The company owns and operates a 400 MW / 1,600 MWh battery energy storage system at Moss Landing, California, the largest of its kind in the world. Vistra is guided by four fundamental principles: we conduct our business the right way, we work as a team, we compete to win and we care about our stakeholders, including our customers, our communities where we work and live, our employees. and our investors. Learn more about our environmental, social and governance efforts and read the company’s sustainability report at https://www.vistracorp.com/sustainability/.

Caution Regarding Forward-Looking Statements

The information presented here includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on current expectations, estimates and projections regarding the industry and the markets in which Vistra Corp. (“Vistra”) operates and the beliefs and assumptions made by the management of Vistra, involve risks and uncertainties, which are difficult to predict and are not guarantees of future performance, which could significantly affect the financial results of Vistra. All statements, other than statements of historical fact, which are presented here, or in response to questions or otherwise, that deal with activities, events or developments that may occur in the future, including questions such as activities related to our financial or operational projections, the potential impacts of the COVID-19 pandemic on our operating results, our financial position and our cash flows, the projected synergy, the value lever and the objectives of net debt, capital allocation, capital expenditure, liquidity, conversion rate of adjusted EBITDA to free cash flow, political dividend, business strategy, competitive forces, goals, future acquisitions or disposals, development or operation of power generation assets, market and industry developments and growth in our business and operations (often, but not always bear, by the use of words or phrases, or negative variations of such words or other comparable words of a future or prospective nature, including, but not limited to: “intend”, “plan” , “,” “Should”, “should”, “could”, “could”, “could”, “foresee”, “plan”, “foresee”, “target”, “potential”, “goal”, “objective “,” Guidance “and” outlook “), are forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Although Vistra believes that in making such forward-looking statement Vistra’s expectations are based on reasonable assumptions, such forward-looking statement involves uncertainties and risks that could cause results to differ materially from those projected or suggested by. such forward-looking statement. statement, including, but not limited to: (i) adverse changes in general economic or market conditions (including changes in interest rates) or changes in political conditions or laws and federal or state regulations; (ii) Vistra’s ability to implement its planned initiatives in terms of strategy, capital allocation, performance and cost reduction and to successfully integrate the acquired businesses; (iii) actions of credit rating agencies; (iv) the severity, extent and duration of pandemics, including the COVID-19 pandemic, and the resulting effects on our results of operations, financial condition and cash flows; (v) the severity, magnitude and duration of extreme weather events (including Winter storm Uri), contingencies and uncertainties relating thereto, most of which are difficult to predict and many of which are beyond our control, and the resulting effects on our results of operations, financial condition and cash flows; and (vi) additional risks and factors discussed in reports filed with the Securities and Exchange Commission by Vistra from time to time, including the uncertainties and risks discussed in the sections headed “Risk Factors” and “Forward-Looking Statements” in Vistra’s annual report report on Form 10-K for the year ended December 31, 2020 and any quarterly report subsequently filed on Form 10-Q.

Any forward-looking statement is only valid as of the date it is made, and except as required by law, Vistra undertakes no obligation to update any forward-looking statement to reflect subsequent events or circumstances. on the date it is made or to reflect the occurrence of unforeseen events. New factors appear from time to time, and it is not possible to predict all of them; Vistra also cannot assess the impact of each of these factors or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in a forward-looking statement.

Disclaimer

This press release and the Framework do not constitute or form part of, and should not be construed as, an offer to buy or an invitation to sell securities of Vistra (or its subsidiaries) or the solicitation of an offer to purchase securities of Vistra, and nothing contained herein or therein shall form the basis of or be relied upon in connection with any contract or commitment. Any decision to purchase securities from Vistra should be made solely on the basis of the information to be included in the offering documents produced in connection with the offering of such securities.

View original content to download multimedia: https://www.prnewswire.com/news-releases/vistra-launches-green-finance-framework-301434737.html

SOURCE Vistra Corp.

[ad_2]