Benzinga | Aug 19, 2021 04:49PM EDT

Vistra Completes Expansion Of Battery Energy Storage System At California Facility

* Vistra Corp (NYSE:VST) has recently completed construction on Phase II of its Moss Landing Energy Storage Facility. The 100-megawatt expansion now brings the facility's total capacity to 400 megawatts/1,600 megawatt-hours.

* Utilizing technology from LG Energy Solution, Vistra's lithium-ion battery system is co-located on the site of its existing Moss Landing Power Plant in Monterey County.

* The site has the space to support even further expansion -- up to 1,500 MW/6,000 MWh.

* The 100-MW/400-MWh Phase II expansion operates under a 10-year resource adequacy agreement with Pacific Gas and Electric Company PG&E Corp (NYSE:PCG).

* Recently Morgan Stanley analyst Stephen Byrd lowered its price target on Vistra to $25 from $27 and maintained an overweight rating.

* Price Action: VST shares closed lower by 1.17% at $17.80 on Thursday.