Sign In  |  Register  |  About Burlingame  |  Contact Us

Burlingame, CA
September 01, 2020 10:18am
7-Day Forecast | Traffic
  • Search Hotels in Burlingame

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Vistra Launches Green Finance Framework

By: 3BL Media

Framework supports Vistra's transition to clean energy and aligns with its ESG priorities

SOURCE: Vistra

DESCRIPTION:

IRVING, Texas, December 3, 2021 /3BL Media/ - Vistra (NYSE: VST) announced the publication of its Green Finance Framework, supported by a second-party opinion from V.E (formerly Vigeo Eiris), part of Moody's ESG Solutions. The Framework allows Vistra to issue green financial instruments to fund new or existing projects that support renewable energy and energy efficiency, as defined in the Framework, with alignment to the company's environmental, social, and governance (ESG) strategy.

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

"Vistra's Green Finance Framework reflects our commitment to combat climate change and strengthens our investment strategy," said Curt Morgan, Vistra's chief executive officer. "Investing in our attractive retail and zero-carbon businesses with cost-efficient capital is a key priority for Vistra. We expect to grow Vistra Zero, our zero-carbon generation portfolio, to more than 5,000 MW of renewables and storage assets by 2026, in addition to our 2,300 MW nuclear facility, supporting the broader energy transition of the nation, maintaining the reliability and affordability of electricity, and enhancing the long-term sustainability of the company."

Vistra Zero, already has a robust and growing pipeline of carbon-free renewables and battery storage, including: 

  • Over 2,800 MW1 of zero-carbon generation online 
  • Nearly 2,000 MW of solar or battery storage under construction or in 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 the ICMA's Green Bond Principles 2021 and the LMA's Green Loan Principles 2021, supports further investments in these projects and promotes Vistra's transition to clean energy. The Framework and corresponding second-party opinion can both be found here.

(1) Includes Comanche Peak Nuclear Power Plant in addition to solar and battery storage facilities.

About Vistra
Vistra (NYSE: VST) is a leading, Fortune 275 integrated retail electricity and power generation company based in Irving, Texas, providing essential resources for customers, commerce, and communities. Vistra combines an innovative, customer-centric approach to retail with safe, reliable, diverse, and efficient power generation. The company brings its products and services to market in 20 states and the District of Columbia, including six of the seven competitive wholesale markets in the U.S. and markets in Canada and Japan, as well. Serving nearly 4.3 million residential, commercial, and industrial retail customers with electricity and natural gas, Vistra is one of the largest competitive residential electricity providers in the country and offers over 50 renewable energy plans. The company is also the largest competitive power generator in the U.S., with a capacity of approximately 39,000 megawatts powered by a diverse portfolio, including natural gas, nuclear, solar, and battery energy storage facilities. In addition, Vistra is a large purchaser of wind power. The company owns and operates a 400-MW/1,600-MWh battery energy storage system in Moss Landing, California, the largest of its kind in the world. Vistra is guided by four core principles: we do 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/.

Cautionary Note Regarding Forward-Looking Statements
The information presented herein 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 about the industry and markets in which Vistra Corp. ("Vistra") operates and beliefs of and assumptions made by Vistra's management, involve risks and uncertainties, which are difficult to predict and are not guarantees of future performance, that could significantly affect the financial results of Vistra. All statements, other than statements of historical facts, that are presented herein, or in response to questions or otherwise, that address activities, events or developments that may occur in the future, including such matters as activities related to our financial or operational projections, the potential impacts of the COVID-19 pandemic on our results of operations, financial condition and cash flows, projected synergy, value lever and net debt targets, capital allocation, capital expenditures, liquidity, projected Adjusted EBITDA to free cash flow conversion rate, dividend policy, business strategy, competitive strengths, goals, future acquisitions or dispositions, development or operation of power generation assets, market and industry developments and the growth of our businesses and operations (often, but not always, through the use of words or phrases, or the negative variations of those words or other comparable words of a future or forward-looking nature, including, but not limited to: "intends," "plans," "will likely," "unlikely," "believe," "confident", "expect," "seek," "anticipate," "estimate," "continue," "will," "shall," "should," "could," "may," "might," "predict," "project," "forecast," "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 any such forward-looking statement, Vistra's expectations are based on reasonable assumptions, any such forward-looking statement involves uncertainties and risks that could cause results to differ materially from those projected in or implied by any such forward-looking 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 federal or state laws and regulations; (ii) the ability of Vistra to execute upon its contemplated strategic, capital allocation, performance, and cost-saving initiatives and to successfully integrate acquired businesses; (iii) actions by credit ratings agencies; (iv) the severity, magnitude 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) those 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 entitled "Risk Factors" and "Forward-Looking Statements" in Vistra's annual report on Form 10-K for the year ended December 31, 2020 and any subsequently filed quarterly reports on Form 10-Q.

Any forward-looking statement speaks only at the date on which it is made, and except as may be required by law, Vistra will not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible to predict all of them; nor can Vistra assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement.

Disclaimers

This press release and the Framework do not constitute or form part of, and should not be construed as, an offer to purchase 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 on in connection with any contract or commitment. Any decision to purchase any securities of Vistra should be made solely on the basis of the information to be contained in the offering documents produced in connection with the offering of such securities.

SOURCE Vistra Corp.

Tweet me: .@VistraCorp announced the publication of its Green Finance Framework, supported by a second-party opinion from V.E (formerly Vigeo Eiris), part of @MoodysCorp ESG Solutions. https://bit.ly/3ryZz4g

KEYWORDS: Vistra, Vistra Zero, Green Finance Framework, NYSE:VST

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Burlingame.com & California Media Partners, LLC. All rights reserved.