Vistra said on Monday it would build two new natural gas units at its Permian Basin power plant in West Texas, more than tripling the site’s capacity as the state’s grid grapples with rising demand from households and the oil and gas industry.
U.S. power consumption is expected to reach record highs in this year and the next, fueled by demand from data centers dedicated to AI and cryptocurrency, as well as increased electricity use in homes and businesses for heating and transportation.
The addition of the two units, together totaling 860 megawatts, will take the site’s current capacity to 1,185 MW, the utility company said.
Vistra had said last year it would add up to 2,000 MW of natural-gas-fueled power capacity in Texas by 2028, which would be enough electricity to power 1 million homes.
Its shares were up 0.7% at $208.74 in premarket trading.
(Reporting by Pranav Mathur in Bengaluru; Editing by Anil D’Silva, Krishna Chandra Eluri and Shilpi Majumdar)