New Era Energy stock surges 16% on Vistra power deal

New Era Energy stock jumped 16% on Monday as the company unveiled a significant power supply agreement with Luminant, a subsidiary of Vistra Corp. The 20-year power purchase agreement will provide up to 207 MW of electricity for Phase 1 of the Texas Critical Data Center project in Odessa, Texas. Luminant will draw power from Vistra’s 1,180 MW natural gas-powered facility adjacent to the project site.

The deal includes automatic one-year renewal options, and power should be operational by Q3 2027. New Era CEO Charlie Nelson highlighted that the firm's contracted power for Phase 1 helps significantly reduce development risk. The agreement also grants Vistra a 5% non-voting interest in the data center project and first refusal on future development opportunities at TCDC and other New Era projects.