New Era Energy & Digital Inc.
Vistra To Supply Power From Odessa Plant
New Era subsidiary TCDC PowerCo LLC signed the agreement with Luminant ET Services Company LLC, a Vistra affiliate.
Under the deal, Luminant will supply power from Vistra's 1,180-MW natural gas-fired generating facility in Odessa, Texas. The plant sits next to New Era's Texas Critical Data Center site.
The companies expect power deliveries to begin in the third quarter of 2027. The agreement has an initial 20-year term, followed by automatic one-year renewals.
New Era Chairman and CEO Charlie Nelson said the agreement gives the company firm, contracted power for the project's first phase. He said the deal also reduces development risk as New Era seeks potential data center tenants.
The company has secured the land and construction permits for the project.
Vistra Partnership Opens Path For Expansion
New Era and Vistra also signed a development framework agreement covering potential future power projects.
After power deliveries begin, Vistra will receive a 5% non-voting interest in the portion of the data center project that it supplies under the agreement.
Vistra will also receive a right of first refusal on future development opportunities at the Texas site. In addition, it will have a right of first offer on certain opportunities involving other New Era projects.
Vistra Senior Vice President of Corporate Development and Strategy Claudia Morrow said demand for reliable electricity to support digital infrastructure continues to grow across the U.S.
New Era is developing data centers aimed at artificial intelligence training and inference workloads. Its 493-acre Texas Critical Data Center site in the Permian Basin could eventually scale to 1.4 gigawatts of capacity.
NUAI Price Action: New Era Energy & Digital shares were up 30.38% at $7.645 at the time of publication on Monday, according to Benzinga Pro data.
