New Era Energy & Digital, Inc. (Nasdaq: NUAI) announced on September 21, 2026, that its subsidiary, TCDC PowerCo LLC, has entered into a Power Purchase Agreement (PPA) with Luminant ET Services Company LLC, an affiliate of Vistra Corp. The agreement covers the Texas Critical Data Centers (TCDC) project located near Odessa, Texas.
Under the terms of the PPA, Luminant has committed to supply a minimum of 200 megawatts (MW) and up to 207 MW of electric energy to the project. The power will be sourced from Vistra's 1,180-MW natural gas-fired generating facility in Odessa, which is adjacent to the data center site. The agreement has an initial term of 20 years, with automatic one-year renewal periods thereafter.
The filing details that the obligations of Luminant are subject to the satisfaction of certain conditions precedent by December 31, 2027, including the execution of a Phase 1 Purchase and Sale Agreement for related substation equipment. To secure the agreement, New Era is required to provide credit support, including a letter of credit in the amount of $116,000,000 to be posted within 15 business days of the agreement's date, and additional security not to exceed $82,800,000.
Concurrently with the PPA, New Era and Vistra entered into a Development Framework Agreement (DFA). The DFA grants Vistra a right of first refusal on future onsite generation opportunities at the data center site starting in April 2028. Additionally, following the commencement of power delivery, Vistra will receive a 5% non-voting equity interest in the portion of the project to which Vistra provides power.
