Texas’ biggest power generator Vistra Corp. is acquiring Energy Harbor Corp. in a deal valued at $3.43 billion to create one of the largest clean energy businesses in the country.
The deal, announced Monday, will combine Irving-based Vistra’s nuclear and retail businesses with Energy Harbor’s nuclear and retail assets under a new subsidiary holding company, Vistra Vision. The new company also will include Vistra’s renewables and storage projects.
The deal is expected to close in the second half of 2023. Energy Harbor shareholders will receive a 15% equity stake in Vistra Vision, which will have about five million U.S. retail customers.
