Vistra signs 20-year PPAs with Meta to supply 2,609 MW nuclear power

Vistra Corp.

Signed 20-year PPAs with Meta for 2,609 MW of carbon-free nuclear power from Perry, Davis-Besse, and Beaver Valley plants.
Operating deliveries start late 2026, full by end 2027; uprate deliveries start by 2031, full by end 2034.
Capital expenditures for uprates from 2026-2034, with less than 20% by 2028; expected to meet mid-teens levered return.
At full delivery, incremental Adjusted FCF before Growth accretion: 8-10% from operating, additional 5-7% from uprates.
Conversion of incremental EBITDA to FCF before Growth expected at ~80%.

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