New Era Energy Reports Q3 2026 Progress on Texas Critical Data Centers Project
New Era Energy & Digital, Inc. (NUAI) has provided an update on its flagship Texas Critical Data Centers project, highlighting a transition to a self-execution model for Phase 1 delivery. The company successfully secured power capacity of up to 207 megawatts through a 20-year agreement with a Vistra Corp affiliate, utilizing a grandfathered private use network that bypasses the standard ERCOT Batch Zero process. This strategic move aims to ensure power availability by Q3 2027. The company is leveraging a modular construction approach designed to reduce build costs to less than 50% of traditional developments and mitigate labor shortages. Financially, NUAI strengthened its position through a $64 million private placement used to repay Macquarie borrowings and support Texas development activities. The project's total planned capacity across two phases reaches 757 megawatts, with a target ready-for-service date in Q4 2027.
Topics: capacity expansion cash position data center development debt management power purchase agreement
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