New Era Energy & Digital, Inc. (Nasdaq: NUAI) announced that its subsidiary, TCDC PowerCo LLC, has signed a 20-year power purchase agreement with Luminant ET Services Company LLC, an affiliate of Vistra Corp. (NYSE: VST), to supply between 200 MW and 207 MW of power for Phase 1 of New Era's Texas Critical Data Center project.

Under the agreement, Luminant will draw power from Vistra's 1,180 MW natural gas-fired generating facility in Odessa, Texas, which is located adjacent to the data center site. Power delivery is expected to begin in the third quarter of 2027. The agreement includes automatic one-year renewal periods following the initial 20-year term.

Alongside the power purchase agreement, affiliates of both companies entered into a development framework agreement covering potential future power development at the Texas Critical Data Center and other New Era projects. Upon commencement of power delivery, Vistra will receive a 5% non-voting interest in the portion of the data center project it serves. Vistra also gains a right of first refusal on future development opportunities at the Texas site and a right of first offer on certain other New Era projects.

"Having firm, contracted power for Phase 1 in New Era's name is an incredible milestone which we believe materially reduces Phase 1 development risk at TCDC," said Charlie Nelson, Chairman and Chief Executive Officer of New Era.

Claudia Morrow, Senior Vice President of Corporate Development and Strategy at Vistra, said the company is "pleased to work with New Era on a long-term power arrangement for the TCDC project and to establish a framework that allows us to evaluate additional power opportunities together over time."

The Texas Critical Data Center is located on a 493-acre site in the Permian Basin, with anticipated capacity scaling to 1.4 GW across multiple phases. The information above is based on a press release issued by New Era Energy & Digital.