Natural gas portfolio — 2.6 GW across 7 gas plants in PJM, ISO-NE, NYISO, CAISO
Vistra acquired Lotus Infrastructure's natural gas portfolio for $1.9B. 2.6 GW across 7 plants. Part of Vistra's strategy to expand dispatchable capacity for data center demand.
$1.90B
Deal Value
2,600MW
Capacity
Natural Gas
Technology
Multi-state
Location
Deal Details
- Deal Type
- Project & Portfolio M&A
- Seller / Sponsor
- Lotus Infrastructure Partners
- Buyer / Financier
- Vistra Corp
- Deal Value
- $1.9B
- Stage
- Operating
- ISO/RTO
- CAISO, ISO-NE, NYISO, PJM
- Source
- PR Newswire
Capital Structure
$1.90B
Total transaction value
Debt : Equity50:50
Tranches
- Assumed term loan · Lotus Infrastructure Partners (existing facility, assumed by Vistra)
- $950M
- Cash on hand · Vistra Corp
- $950M
Service Providers
Advisory & Legal
- Buyer Counsel
- Latham & Watkins, Cleary Gottlieb Steen & Hamilton
- Buyer Financial Advisor
- Barclays, Moelis & Company
- Seller Counsel
- King & Spalding, Eversheds Sutherland
- Seller Financial Advisor
- Lazard
- Financial Advisor
- Barclays, Moelis & Company, Lazard
- notes
- Announced May 15, 2025; closed Oct 22, 2025. 2.6 GW across 7 plants.
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