Vistra backs coal to solar and storage proposal in Illinois

first_imgVistra backs coal to solar and storage proposal in Illinois FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Facing a potential wave of coal-fired power plant retirements in downstate Illinois in 2019, Vistra Energy Corp. is backing legislation to be introduced in the state’s General Assembly that lays out a “visionary and comprehensive transition plan” for its subsidiaries’ coal plants, the company said in a March 26 news release.The Illinois Coal to Solar and Energy Storage Act would spark the redevelopment of sites now home to coal-fired facilities with roughly 500 MW of utility-scale solar-plus-storage power plants going online between 2021 and 2022, according to the Texas-headquartered independent power producer. The Illinois Power Agency would facilitate the projects through 15-year power contracts, generating an estimated $450 million in investment, Vistra added on a website launched to promote the forthcoming legislation.Stand-alone storage projects would qualify for 10-year grants built at existing coal plants that cannot accommodate large-scale solar facilities, Vistra said.The proposal, which lawmakers had not officially introduced as of this writing, would “responsibly retire existing downstate capacity by keeping otherwise at-risk plants online through 2024,” Vistra said. “This provides sufficient time for new renewable generation, transmission, and energy efficiency projects to materialize while also providing more stability for grid reliability and power prices.”The preview of the legislation in Illinois comes as utilities around the U.S. turn away from coal amid increasingly competitive renewable energy resources.More ($): With coal under pressure, Vistra backs solar-plus-storage bill in Illinoislast_img

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