The nuclear power station in Beaver County is being sold to a company from Texas.
Vistra announced that they are acquiring the Beaver Valley Power Station in a $3.4 billion deal with Ohio-based Energy Harbor.
The agreement will see a new subsidiary developed under the name “Vistra Vision.”
The deal comes amid one of the largest federal corruption cases in history. An investigation is underway to see if the former Ohio speaker of the house colluded with First Energy, which is the parent company of Energy Harbor, to elect legislative allies. In turn, the nuclear industry then received a $1 billion bailout which primarily benefitted First Energy.
The deal still needs federal approval, but could close in the second half of this year.
