New Era Energy Secures 20-Year Power Deal With Vistra

New Era Energy & Digital secured a 20-year power purchase agreement with Vistra Corp to provide electricity for the first phase of its Texas Critical Data Center (TCDC). The contract, signed between New Era subsidiary TCDC PowerCo and Vistra affiliate Luminant ET Services Company, ensures a minimum of 200 MW and up to 207 MW of power from a natural gas-fired plant in Odessa, Texas.

Power delivery is scheduled to begin in the third quarter of 2027. As part of the arrangement, the companies signed a development framework agreement that grants Vistra a 5% non-voting interest in the powered portion of the project, as well as first refusal and first offer rights for future developments.

CEO Charlie Nelson described the agreement as an "incredible milestone" that reduces development risk for the project's first phase. Vistra Senior Vice President Claudia Morrow noted that the framework allows the companies to evaluate additional power opportunities over time. Following the announcement, shares of New Era Energy rose more than 30% to approximately $7.65.