New Era Energy & Digital, Inc. has secured a 20-year power purchase agreement with Luminant ET Services Company LLC, an affiliate of Vistra Corp., committing to supply between 200 MW and 207 MW of electricity for Phase 1 of the company's Texas Critical Data Center project in the Permian Basin. The agreement, announced September 21, 2026, marks what the Midland, Texas-based company described as a significant step in reducing development risk at the site.

Terms of the Power Agreement

Under the PPA, Luminant will draw power from Vistra's 1,180 MW natural gas-fired generating facility in Odessa, Texas, which sits immediately adjacent to the Texas Critical Data Center site.

The contract carries an initial 20-year term, with automatic one-year renewal periods following its expiration. New Era said it expects the firm, contracted power to be available to the data center project in the third quarter of 2027.

The agreement was entered into by New Era's subsidiary, TCDC PowerCo LLC, and positions the company to offer potential tenants a project with land secured, construction permits in place, and power contracted for two decades.

Charlie Nelson, Chairman and Chief Executive Officer of New Era, said the agreement transforms the site from a location with a power plan into what he characterized as permitted powered land.

"Having firm, contracted power for Phase 1 in New Era's name is an incredible milestone, which we believe materially reduces Phase 1 development risk at TCDC," Nelson said.

"With the land secured, construction permits in hand, Phase 1 power contracted for 20 years, and room to expand to multiple phases, we believe this is an attractive opportunity to any quality tenant currently in the market."

Development Framework Extends Partnership Beyond Phase 1

Alongside the power purchase agreement, affiliates of New Era and Vistra entered into a companion development framework agreement designed to extend the relationship beyond the initial phase of the Texas Critical Data Center project. The framework establishes a pathway for advancing future power development at the TCDC site as well as at other New Era projects.

Under the terms of the development framework, Vistra will receive a 5% non-voting interest in the portion of the data center project to which it provides power, beginning upon the commencement of power delivery.

The agreement also 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 at other New Era projects.

Nelson described the partnership dimension of the arrangement as a point of particular significance for the company. "Combining this PPA with a long-term partnership with Vistra is something of which we are particularly proud," he said. "We believe aligning our interests will expedite development timelines and give potential tenants confidence in our project."

Claudia Morrow, Senior Vice President of Corporate Development and Strategy at Vistra, said the company sees continued growth in demand for reliable power to support digital infrastructure across the United States. "We are pleased to work with New Era on a long-term power arrangement for the TCDC project and to establish a framework that allows us to evaluate additional power opportunities together over time," Morrow said.

The Texas Critical Data Center Project

The Texas Critical Data Center is New Era's flagship development, situated on a 493-acre site in the Permian Basin. The company has said it anticipates the site's capacity will scale to 1.4 gigawatts over time.

New Era describes its development approach as a modular, phased deployment model that uses behind-the-meter power and self-generated electricity, with an emphasis on water efficiency and minimizing impact on surrounding communities.

The company's stated goal is to serve hyperscale, enterprise, and edge operators requiring infrastructure capable of supporting artificial intelligence training and inference workloads.

New Era trades on the Nasdaq exchange under the ticker symbol NUAI and describes itself as a developer of next-generation digital infrastructure and integrated power assets across energy-rich U.S. markets.

Power Supply Infrastructure

The physical proximity of Vistra's Odessa generating facility to the TCDC site is a central feature of the arrangement. The 1,180 MW natural gas plant sits immediately adjacent to the data center property, a geographic relationship that New Era indicated is integral to the project's power delivery structure.

The behind-the-meter approach the company pursues is designed to give data center operators more direct access to generation assets, reducing reliance on the broader transmission grid.

New Era noted that the Odessa generating facility's scale relative to the contracted capacity for Phase 1 leaves substantial room for future power arrangements at the site, consistent with the development framework agreement's provisions around expansion opportunities.

Vistra Corp. trades on the New York Stock Exchange under the ticker symbol VST. The company's affiliate Luminant ET Services Company LLC is the contracting counterparty on the power purchase agreement. New Era's announcement did not disclose the pricing terms of the PPA.

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