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Vistra acquires 2.6 GW gas portfolio from Lotus Infrastructure

Vistra Corp. finalises the purchase of seven natural gas power plants totalling 2.6 gigawatts, strengthening its presence in key US electricity markets.

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Vistra Corp. has completed the acquisition of a 2.6-gigawatt (GW) natural gas-fired power generation portfolio from Lotus Infrastructure Partners, a private equity firm specialising in energy infrastructure. The deal covers seven thermal power plants located in major US regional electricity markets, including PJM Interconnection, ISO New England, New York Independent System Operator (ISO) and California ISO.

A portfolio spread across four strategic markets

The sold portfolio includes five combined-cycle gas turbine plants and two combustion turbine facilities. These assets have been acquired, operated and optimised by Lotus over the years as part of its value-add investment strategy. The sale enables a significant capital return to the funds managed by Lotus, although financial terms were not disclosed.

Lotus highlights a successful value creation strategy

Lotus Infrastructure Partners Chairman and Chief Executive Officer Himanshu Saxena stated that the transaction represents “an outstanding result for investors” and highlighted the execution of numerous operational, financial and contractual initiatives by the Lotus team during the ownership period. Vistra, a Fortune 500 integrated electricity generation and retail company, thus strengthens its production capacity in several critical areas of the US power grid.

A deal backed by specialised advisers

The transaction was supported by Lazard as exclusive financial adviser to Lotus. Legal counsel was provided by King & Spalding LLP and Eversheds Sutherland (US) LLP. The acquisition is part of a broader wave of consolidation in the sector aimed at enhancing grid reliability and flexibility in response to increasingly variable demand.

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