Vistra agrees to buy Cogentrix's 5.5 GW gas fleet for about $4 billion

Vistra signed definitive agreements to acquire Cogentrix Energy's portfolio of 10 modern natural gas plants with 5,496 MW of combined capacity, for a net price of about $4 billion. The plants sit in PJM, ISO New England and ERCOT, which adds firm gas capacity in the regions where data-center load is growing fastest. Closing depends on regulatory approvals and was expected in mid-to-late 2026.

• 10 gas plants, 5,496 MW combined capacity
• About 3,163 MW in PJM, about 1,750 MW in ISO New England, 583 MW in ERCOT (Altura)
• Net purchase price about $4 billion
• Expected to close in mid-to-late 2026 and be accretive from 2027
• Seller is funds managed by Quantum Capital Group