Texas energy company Vistra Corp. is acquiring Energy Harbor, owners of the Beaver Valley Power Station, for $3.4 billion.

Harbor's nuclear and retail businesses will merge with Vistra's under a newly formed subsidiary, called "Vistra Vision.”

Vistra Vision will own a total of four nuclear plants, including Beaver Valley in Shippingport. The move is part of a transition to carbon-free electric generation among the nation’s utilities. Vistra Vision will combine the company’s growing set of nuclear, solar and energy storage assets.

The company will be based in Irving, Texas, with retail offices in Ohio, Pennsylvania and Illinois.