New Era Energy Shares Rise After Signing Long-Term Power Agreement with Luminant
New Era Energy (NASDAQ:NUAI) shares rose by 16% following the announcement of a 20-year power purchase agreement with Luminant, an affiliate of Vistra Corp. The deal will supply up to 207 MW of electricity for Phase 1 of New Era's Texas Critical Data Centers project starting in Q3 2027. Power will be sourced from Vistra’s natural gas-fired plant near the development site in Odessa, Texas. In addition to securing a long-term power supply, the agreement includes provisions allowing Vistra to receive a non-voting stake and rights of first refusal for future developments at TCDC and other New Era projects. While this deal covers only Phase 1's electricity needs, it lays groundwork for potential expansion as the project progresses toward its target capacity of up to 1.4 GW. The agreement is seen by company leadership as a key milestone that reduces development risk and supports long-term infrastructure planning.
Topics: Data Centers Energy Infrastructure Partnership