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Vistra Energy closes acquisition of 1,054-MW Texas combined-cycle plant

Vistra Energy Corp. completed the acquisition of the 1,054-MW Odessa-Ector combined-cycle power facility in Texas from a Koch Ag & Energy Solutions LLC subsidiary for $350 million, or approximately $332/kW, according to an Aug. 1 release.

The purchase price also includes a spark spread-based earn-out payable only if market conditions meaningfully improve, as per the deal originally announced July 6.

Located in the ERCOT West Zone, the natural gas-fired plant entered commercial operation in August 2001. The facility has a full load heat rate of 7.1 MMBtu/MWh and access to "deeply discounted" natural gas supply from the Permian Basin.

Koch Ag & Energy Solutions is a Koch Industries Inc. subsidiary.