New Era Energy & Digital (Nasdaq: NUAI) secured a 20-year power purchase agreement for its Texas Critical Data Center project. The deal, between subsidiary TCDC PowerCo LLC and Luminant ET Services, a Vistra Corp. affiliate, locks in up to 207 MW of power.
The source is close by. Vistra will supply the power from its 1,180 MW natural gas plant in Odessa, which sits right next to the TCDC site.
The fine print:
Minimum 200 MW, up to 207 MW guaranteed
20-year initial term, then automatic one-year renewals
Delivery targeted for Q3 2027
Beyond Phase 1: The companies also signed a development framework agreement. Once power delivery begins, Vistra receives a 5% non-voting stake in the portion of the project it powers. Vistra also gets right of first refusal on future TCDC development and right of first offer on other New Era projects, giving it a standing seat at the table for whatever New Era builds next.
CEO Charlie Nelson said holding this power directly is what the company previously argued would turn TCDC "from a site with a power plan into permitted powered land," adding that this agreement is intended to do exactly that. He also said the deal materially reduces development risk for Phase 1. Vistra's Claudia Morrow pointed to rising demand for power tied to digital infrastructure nationwide.
Land secured, permits in hand, and now power locked in under its own name. New Era just knocked out the piece of the puzzle most likely to stall a project this size before it starts.
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