New Era Energy & Digital Inc (NASDAQ: NUAI) announced it has entered into a 20-year power purchase agreement with Luminant ET Services Company LLC, an affiliate of Vistra Corp (NYSE: VST), to supply electricity for its Texas Critical Data Center (TCDC) project in the Permian Basin.
Under the agreement, Luminant will deliver between 200 MW and 207 MW of power for Phase 1 of the facility, drawn from Vistra’s 1,180 MW natural gas-fired generating plant located in Odessa, Texas, adjacent to the TCDC site. Power delivery is expected to begin in the third quarter of 2027.
The PPA carries an initial 20-year term with automatic one-year renewal periods thereafter. As part of the arrangement, Vistra will receive a 5% non-voting interest in the portion of the data center project to which it supplies power once power delivery commences.
In addition to the PPA, New Era and Vistra signed a development framework agreement governing potential future power development at TCDC and other New Era sites. The deal grants Vistra a right of first refusal on future development opportunities at the TCDC project and a right of first offer on certain development opportunities serving other New Era projects.
The 493-acre TCDC site is situated in the Permian Basin near Midland and Odessa, Texas. New Era anticipates the facility’s capacity scaling to 1.4 GW over time. The data center is being built to support artificial intelligence training and inference workloads.
"Combining this PPA with a long-term partnership with Vistra is something of which we are particularly proud," said Charlie Nelson, chairman and CEO of New Era. Claudia Morrow, senior vice president of corporate development and strategy at Vistra, was also named in connection with the deal.
