New Era Energy Signs 20-Year PPA with Vistra to Power Texas Data Center
New Era Energy & Digital (NASDAQ: NUAI) has signed a long-term power purchase agreement for up to 207 MW of electricity from Luminant ET Services, an affiliate of Vistra. The deal supports the first phase of New Era's Texas Critical Data Center near Odessa and is expected to begin in Q3 2027. Following the announcement, shares surged by about 30% as investors reacted positively to the secured power contract. The agreement requires significant financial commitments from New Era, including a $116 million letter of credit within two weeks and up to an additional $82.8 million in security before delivery begins. Vistra will also receive a non-voting 5% stake in part of TCDC once deliveries start and has rights related to future power expansion opportunities. New Era still needs to secure tenants, infrastructure funding, and complete construction for the data center project. The company previously arranged up to $290 million in financing from Macquarie and a non-binding joint venture with Stream Data Centers.
