Vistra Corp. will more than triple the size of its natural-gas-fired power plant in the Permian Basin as the oil-rich region of West Texas braces for booming power demand.
The two new gas units on the company’s existing Permian Basin power station will add 860 megawatts to the site’s capacity, bringing the total capacity to 1,185 MW. The full plant will have enough capacity to supply nearly 300,000 homes on the main Texas grid.
The announcement comes as the Electric Reliability Council of Texas (ERCOT) electricity grid faces a massive surge in future power demand, fueled by a growing population, data centers and the growth in oil and gas production. The Permian Basin alone is expected to see electricity demand more than double from 10,500 MW in 2021 to nearly 24,000 MW in 2030, according to ERCOT data.
Roughly half of that new demand will come from oil and gas production. It’s already prompted new transmission investments and renewed interest in expanding generation in the region.
