We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Vistra Energy's (VST) Moss Landing Phase I Comes Online
Read MoreHide Full Article
Vistra Energy Corp.’s (VST - Free Report) Moss Landing Energy Storage Facility is connected to its power grid and started its commercial activities on Dec 11, 2020. The project is the flagship of the company’s 4,000-Megawatt (MW) zero-carbon portfolio and includes a total of five battery projects in California and Texas.
The Moss Landing —Phase I is the lithium-ion battery storage system, located onsite at Vistra Energy's Moss Landing Power Plant in Monterey County. With an energy capacity of 300 MW/1,200 Megawatt hours (MWh), the project is one of the largest across the globe. It is fitted inside the power plant's refurbished former turbine building and can power 225,000 homes during the peak electricity pricing periods.
Details of Other Projects
Prior to the Phase 1, the company’s Upton 2 project came online in December 2018 with a capacity of 10 MW/42 MWh. Also, construction of its Phase II started with an expectation to be activated by August 2021. This phase will add 100 MW/400 MWh to the facility, increasing its total capacity to 400 MW/1,600 MWh. Both phases are backed by the long-term resource adequacy contracts with Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (PCG - Free Report) .
Moreover, two more projects namely, DeCordova and Oakland with respective capacities of 260 MW/260 MWh and 36.25 MW/145 MWh are expected to come online in 2022. Remarkably, the project can support up to 1,500 MW/6,000 MWh of storage capacity.
Benefits of the Project
As California moves to clean energy, batteries will be a game changer. Vistra Energy’s Moss Landing project has a battery system that will serve as the model for utility-scale battery storage in the upcoming period. The project fortifies an existing power plant site, uses active transmission lines and enhances grid stability. This will not only benefit the local community but also provide affordable clean electricity to consumers.
Vistra Energy’s Efforts to Shift to Clean Energy
Previously, in September, the utility had announced a comprehensive plan to accelerate its transition to clean power-generation sources and initiatives to trim its carbon footprint. It had launched Vistra Zero, a portfolio of zero-carbon power-generation facilities.
Also, the company set a target to reduce 60% of CO2 equivalent emissions, up from its previous 50% goal by 2030 compared with the 2010 baseline. Further, it expects to achieve a long-term net-zero carbon emission objective, up from the past 80% reduction target, by 2050.
Moreover, Vistra Energy expects to retire its partly-owned seven Luminant power plants with a total capacity of more than 6,800 MW between 2022 and 2027. These coal plants remain economically challenged as they require significant capital expenditures for compliance with the Environmental Protection Agency filing deadlines. Retirement of these plants will be another step into the direction of the company’s efforts to achieve its clean-energy production targets.
Peer Moves
Other electric utilities are also adopting measures to supply clean and reliable energy to their customers. Some of the companies, namely Duke Energy (DUK - Free Report) and Alliant Energy (LNT - Free Report) are planning to provide absolute clean energy by 2050.
Zacks Rank & Price Performance
Vistra Energy currently carries a Zacks Rank #4 (Sell).
In the past three months, shares of the company have gained 12.2%, outperforming the industry’s rise of 1%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Bigstock
Vistra Energy's (VST) Moss Landing Phase I Comes Online
Vistra Energy Corp.’s (VST - Free Report) Moss Landing Energy Storage Facility is connected to its power grid and started its commercial activities on Dec 11, 2020. The project is the flagship of the company’s 4,000-Megawatt (MW) zero-carbon portfolio and includes a total of five battery projects in California and Texas.
The Moss Landing —Phase I is the lithium-ion battery storage system, located onsite at Vistra Energy's Moss Landing Power Plant in Monterey County. With an energy capacity of 300 MW/1,200 Megawatt hours (MWh), the project is one of the largest across the globe. It is fitted inside the power plant's refurbished former turbine building and can power 225,000 homes during the peak electricity pricing periods.
Details of Other Projects
Prior to the Phase 1, the company’s Upton 2 project came online in December 2018 with a capacity of 10 MW/42 MWh. Also, construction of its Phase II started with an expectation to be activated by August 2021. This phase will add 100 MW/400 MWh to the facility, increasing its total capacity to 400 MW/1,600 MWh. Both phases are backed by the long-term resource adequacy contracts with Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (PCG - Free Report) .
Moreover, two more projects namely, DeCordova and Oakland with respective capacities of 260 MW/260 MWh and 36.25 MW/145 MWh are expected to come online in 2022. Remarkably, the project can support up to 1,500 MW/6,000 MWh of storage capacity.
Benefits of the Project
As California moves to clean energy, batteries will be a game changer. Vistra Energy’s Moss Landing project has a battery system that will serve as the model for utility-scale battery storage in the upcoming period. The project fortifies an existing power plant site, uses active transmission lines and enhances grid stability. This will not only benefit the local community but also provide affordable clean electricity to consumers.
Vistra Energy’s Efforts to Shift to Clean Energy
Previously, in September, the utility had announced a comprehensive plan to accelerate its transition to clean power-generation sources and initiatives to trim its carbon footprint. It had launched Vistra Zero, a portfolio of zero-carbon power-generation facilities.
Also, the company set a target to reduce 60% of CO2 equivalent emissions, up from its previous 50% goal by 2030 compared with the 2010 baseline. Further, it expects to achieve a long-term net-zero carbon emission objective, up from the past 80% reduction target, by 2050.
Moreover, Vistra Energy expects to retire its partly-owned seven Luminant power plants with a total capacity of more than 6,800 MW between 2022 and 2027. These coal plants remain economically challenged as they require significant capital expenditures for compliance with the Environmental Protection Agency filing deadlines. Retirement of these plants will be another step into the direction of the company’s efforts to achieve its clean-energy production targets.
Peer Moves
Other electric utilities are also adopting measures to supply clean and reliable energy to their customers. Some of the companies, namely Duke Energy (DUK - Free Report) and Alliant Energy (LNT - Free Report) are planning to provide absolute clean energy by 2050.
Zacks Rank & Price Performance
Vistra Energy currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past three months, shares of the company have gained 12.2%, outperforming the industry’s rise of 1%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>