Vistra Buying US Gas-Power Fleet for $4 Billion to Deepen AI Bet

Vistra Corp. agreed to pay roughly $4 billion for 10 natural gas-fired power plants in the US Northeast and Texas to expand the electricity supplier’s generation capacity in fast-growing energy markets.

The generators were purchased from Cogentrix Energy, which is indirectly owned by funds managed by Quantum Capital Group, according to a statement Monday. The acquisition includes assets with a total capacity of 5.5 gigawatts on three major US grids — New England, Texas and the system that spans New Jersey to Chicago.

Vistra’s shares climbed as much as 6.6% in late trading Monday.

Power providers are increasing their ...