Power
Power and the grid
207 MW contracted
Vistra's Odessa gas plant (Luminant power purchase)Contracted
Phase 1 contract, 200 to 207 MW for 20 years, from the adjacent 1,180 MW plant; delivery expected Q3 2027 Company · Sept. 2026
On-site gas generation (Phase 2)Planned
company plan for the second phase; not contracted or built Company · April 2026
ContractedProposed
Getting on the grid
Who supplies what, what it costs, and what is still not public.
- April 1, 2026Phased power planNew Era and Stream plan about 200 MW of utility-powered capacity first, then about 450 MW of on-site gas, then more than 1 GW in total. Company · April 2026
- Sept. 18, 202620-year power contract signedA New Era subsidiary signs with Luminant, a Vistra affiliate, for 200 to 207 MW from the Odessa gas plant next to the site. Company · Sept. 2026
- Q3 2027Firm power expectedCompany's expected date for Phase 1 power to be available. Company · Sept. 2026
- Vistra gets a 5% non-voting stake in the data center after first power delivery, plus first-refusal rights on future development (press). News report · Sept. 2026
- A separate non-binding letter of intent with Mawgan Capital covers about 250 MW of behind-the-meter gas; it is not a contract and should not be added to the 450 MW Phase 2 figure. News report · Oct. 2026
Permits
Permits checklist
2 granted
Approvals New Era has reported. The underlying permit records were not retrieved.
- ✓Construction permits GrantedEctor County · Aug. 2026: New Era says (press); permit numbers not published News report · Aug. 2026
- ✓Approval to begin grading GrantedTexas Commission on Environmental Quality · Aug. 2026: New Era says (press); no state record retrieved News report · Aug. 2026
Risks
What could slow it down
- HighNo tenantNo tenant is signed; New Era is marketing the campus to any tenant in the market. Company · Sept. 2026
- MediumPower beyond Phase 1 is a planThe 450 MW on-site gas phase is a company plan, and the only generation deal for it is a non-binding letter of intent. News report · Oct. 2026
- WatchPermits seen only through company statementsThe county permits and state grading approval come from New Era's statements; no direct state record was retrieved. News report · Oct. 2026
Money
Money on record
$70M
buyout of SharonAI's 50% stake
agreement dated Jan. 16, 2026 (securities filing) SEC filing · Jan. 2026
$50M
of that paid as a senior secured convertible note
plus $10M cash and $10M stock Company · Jan. 2026
5%
non-voting stake Vistra gets after first power
press account of the power deal News report · Sept. 2026
Timeline
What happened, and what is due
SitePaper trailConstructionPowerPermitsMoneyLegalUpcoming
- 2024Site Site first announced as a 90 MW off-grid project (press) News report · Oct. 2026
- Jan. 16, 2026Money New Era agrees to buy SharonAI's 50% stake in the project for $70M SEC filing · Jan. 2026
- Jan. 18, 2026Money Deal closes; New Era owns 100% of Texas Critical Data Centers Company · Jan. 2026
- April 1, 2026Site Stream Data Centers signs a letter of intent to develop the campus in three phases Company · April 2026
- Aug. 2026Permits New Era says it has county construction permits and state approval to begin grading (press) News report · Aug. 2026
- Sept. 18, 2026Power 20-year power contract signed with Vistra's Luminant for up to 207 MW Company · Sept. 2026
- Q3 2027Power Phase 1 power expected to be available (company) Company · Sept. 2026
The buildings
Specs
Who is involved
Owners, partners and builders
Owners
- New Era Energy & Digital, Inc.: developer, sole owner since Jan. 2026
- Texas Critical Data Centers LLC: project company
- SharonAI: former 50% partner, sold out
Builders
- Stream Data Centers: development partner (letter of intent)
Power partners
- Luminant ET Services (Vistra): Phase 1 power supplier
- TCDC PowerCo LLC: New Era subsidiary that signed the power contract
- Mawgan Capital: non-binding letter of intent for on-site gas
Decision-makers
- Ector County: construction permits
- Texas Commission on Environmental Quality: grading approval
Still unknown
Open questions
- Tenant for any phase.
- Air permit and contracts for the Phase 2 on-site gas.
- State permit records behind the reported approvals.
Where this comes from
40 records from 11 documents
Drawn from company statements, news reports, securities filings and public and commercial datasets, each kept with its date and source. The bar shows documents by type.
Company 5News report 4SEC filing 1Dataset 1
Evidence
Every quote behind this page
Grade key: A = the primary record itself (permit, filing, exhibit) · B = a dated official statement · C = news reporting. Map distances are our own measurements on OpenStreetMap and carry no grade. Allegations in lawsuits are marked as such in the quotes.
Power (9)
- Announced: Nov. 12, 2024“today announce that they have executed a non-binding letter of intent to form a joint venture for the design, development, and operation of an initial 90MW net-zero energy data center in the Permian Basin”Company · Nov. 2024 · grade A
- Construction stage: permitted, pre-construction - land secured, Ector County construction permits and TCEQ grading approval in hand (Aug 2026); Phase 1 power delivery expected Q3 2027“With the land secured, construction permits in hand, Phase 1 power contracted for 20 years, and room to expand to multiple phases”Company · Sept. 2026 · grade B
- On-site generation: 550 MW“A subsidiary of Thunderhead Energy Solutions, New Era's Phase 2 power partner, submitted a standard air permit application to TCEQ, which would support ~550MW of Phase 2 capacity at TCDC”Company · Aug. 2026 · grade B
- Stated campus size: 1,000 MW“Designed for phased expansion toward 1+ GW of total capacity”Company · April 2026 · grade B
- Utility service: 200 MW“Phase 1: ~200 MW of utility-powered capacity”Company · April 2026 · grade B
- On-site generation: 450 MW“Phase 2: ~450 MW of on-site gas-fired generation capacity”Company · April 2026 · grade B
- Developer: New Era Energy & Digital, Inc. (Nasdaq: NUAI), with Stream Data Centers as development partner“New Era is a developer and operator of next-generation digital infrastructure and integrated power assets”Company · April 2026 · grade B
- Non-binding LOI with Mawgan Capital / Thunderhead Energy Solutions to deploy ~250 MW of behind-the-meter gas generation at TCDC - not a contract; do not sum with the Phase 2 450 MW figure“TCDC has signed a non-binding LOI with Mawgan Capital to deploy 250MW of gas generation to supply the data center”News report · Oct. 2026 · grade C
- One secondary source puts the long-term TCDC target at ~1.4 GW (CryptoBriefing); The site started as a 90 MW off-grid announcement in 2024 and a 250 MW initial-capacity figure in the buyout coverage“The project is expected to have an initial capacity of 250MW, with the potential to scale beyond 1GW”News report · Oct. 2026 · grade C
Money and contracts (8)
- Membership Interest Purchase Agreement (JV buyout): ownership transfer - 50% JV interest 50 percent of TCDC membership interests“Seller owns Membership Interests of the Company constituting 50% of the Percentage Interest”SEC filing · Jan. 2026 · grade A
- Membership Interest Purchase Agreement (JV buyout): purchase price 70 USD million“The aggregate purchase price for the Purchased Interests shall be $70,000,000 (the "Purchase Price")”SEC filing · Jan. 2026 · grade A
- Tenant status: none found - no tenant signed; project marketed to hyperscale tenants“we believe this is an attractive opportunity to any quality tenant currently in the market”Company · Sept. 2026 · grade B
- Power Purchase Agreement: contracted capacity 207 MW“Luminant has agreed to supply a minimum of 200 MW and up to 207 MW of power for Phase 1 of New Era’s Texas Critical Data Center ("TCDC") project”Company · Sept. 2026 · grade B
- Power Purchase Agreement: term 20-year initial term, automatic one-year renewals“The PPA has an initial 20-year term, with automatic one-year renewal periods thereafter. The firm, contracted power is expected to be available to TCDC in Q3 of 2027”Company · Sept. 2026 · grade B
- Development partnership (LOI): development partnership three-phase delivery on land contributed by New Era“Expected to be delivered in three phases on land contributed by New Era”Company · April 2026 · grade B
- Membership Interest Purchase Agreement (JV buyout): consideration structure $10M cash + $10M common stock + $50M senior secured convertible note (matures June 30, 2026)“The consideration New Era will pay Sharon AI will be an aggregate of US$70m and is comprised of a US$50m Senior Secured Convertible Promissory Note, US$10m in Cash and US$10m in Equity”Company · Jan. 2026 · grade B
- Power Purchase Agreement: ROFO / ROFO rights Vistra: first refusal rights on future TCDC development opportunities; first offer rights on certain future projects; 5% non-voting stake after first power delivery“The agreement gives Vistra a 5% non-voting stake in the data center after the first power delivery. Vistra will also have first refusal rights on future TCDC development opportunities and first offer rights on certain future projects”News report · Sept. 2026 · grade C
Permits and government (3)
- TCEQ standard air permit application (Phase 2 behind-the-meter plant): application submitted (per New Era Q2 2026 report); not issued“A subsidiary of Thunderhead Energy Solutions, New Era's Phase 2 power partner, submitted a standard air permit application to TCEQ, which would support ~550MW of Phase 2 capacity at TCDC”Company · Aug. 2026 · grade B
- construction permits: issued“In August, New Era said it had received construction permits from Ector County and TCEQ approval to begin grading”News report · Aug. 2026 · grade C
- grading approval: approved“In August, New Era said it had received construction permits from Ector County and TCEQ approval to begin grading”News report · Aug. 2026 · grade C
Site and other (3)
- Campus name: New Era Texas Critical Data Center (TCDC)“The Company is developing Texas Critical Data Centers LLC ("TCDC"), a 438 acre large-scale AI and high-performance computing data center campus located in Ector County, outside Odessa, Texas”Company · April 2026 · grade B
- Site acres: 438 acres“438 acres owned, plus a 54-acre corridor pending (Ector County, Texas)”Company · April 2026 · grade B
- County code: 48135“438 acres owned, plus a 54-acre corridor pending (Ector County, Texas)”Company · April 2026 · grade B