Gas-Fired Power Plant to Trade for $350M

Vistra Energy will be acquiring an Odessa, TX-based, gas-fired power plant for $350 million in a cash deal from Odessa Power, an affiliate of Koch Industries. Vistra Energy, parent company of TXU Energy and Luminant, indicate that the 1,054 megawatt, combined cycle combustion turbine power plant will provide access to discounted gas supply from the Permian Basin. The plant is at 2200 Interstate 20 East. The transaction is subject to regulatory approval.

The plant came online in 2001. Koch Energy Services has owned the asset since 2013, when it was acquired from Energy Capital Partners II for $335 million.

Gas-fired plants make up more than half of the generation capacity on a grid overseen by Electric Reliability Council of Texas (ERCOT).

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