- Today
- Holidays
- Birthdays
- Reminders
- Cities
- Atlanta
- Austin
- Baltimore
- Berwyn
- Beverly Hills
- Birmingham
- Boston
- Brooklyn
- Buffalo
- Charlotte
- Chicago
- Cincinnati
- Cleveland
- Columbus
- Dallas
- Denver
- Detroit
- Fort Worth
- Houston
- Indianapolis
- Knoxville
- Las Vegas
- Los Angeles
- Louisville
- Madison
- Memphis
- Miami
- Milwaukee
- Minneapolis
- Nashville
- New Orleans
- New York
- Omaha
- Orlando
- Philadelphia
- Phoenix
- Pittsburgh
- Portland
- Raleigh
- Richmond
- Rutherford
- Sacramento
- Salt Lake City
- San Antonio
- San Diego
- San Francisco
- San Jose
- Seattle
- Tampa
- Tucson
- Washington
New Era, Stream Partner to Advance Permian Data Center
The $12 billion project could exceed 1 gigawatt and rely heavily on locally produced natural gas.
Apr. 1, 2026 at 8:34pm
Got story updates? Submit your updates here. ›
New Era Energy & Digital, a Midland-based developer and operator of digital infrastructure, has entered into a non-binding letter of intent to form a joint venture with Stream Data Centers, a U.S. data center development and operating platform, to advance the Texas Critical Data Centers campus in Ector County. The project is expected to be delivered in three phases, ultimately reaching over 1 gigawatt of total capacity, and will utilize a behind-the-meter power strategy designed to enhance power certainty and delivery speed.
Why it matters
This partnership represents a significant investment in the Permian Basin region, which is known for its abundant natural gas production. By leveraging local energy resources, the data center campus aims to provide a more sustainable and cost-effective solution for powering large-scale digital infrastructure.
The details
The joint venture will see New Era contribute its site control and local relationships, while the institutional investor will provide equity capital and lead project financing, which is expected to include approximately 80% debt financing. Stream Data Centers will serve as the development manager and operator for the campus. The project is designed for phased expansion, with Phase 1 delivering around 200 MW of utility-powered capacity, Phase 2 adding 450 MW of on-site gas-fired generation capacity, and Phase 3 scaling the campus to over 1 GW of total capacity.
- The joint venture agreement was announced in April 2026.
The players
New Era Energy & Digital
A developer and operator of next-generation digital infrastructure and integrated power assets, based in Midland, Texas.
Stream Data Centers
A Tier 1 U.S. data center development and operating platform that will serve as the development manager and operator for the Texas Critical Data Centers campus.
Grow Odessa
The organization that agreed to sell 438 acres in Ector County, plus a 54-acre corridor, to New Era for the data center campus.
Will Gray II
The chief executive officer of New Era Energy & Digital.
Vistra
A power generation company that operates assets adjacent to the data center campus.
Calpine
A power generation company that operates assets adjacent to the data center campus.
What they’re saying
“This is exciting news today. One of them will be coming to Midland-Odessa.”
— Will Gray II, CEO, New Era Energy & Digital
“If you can't export the natural gas, let's use it where it's created.”
— Will Gray II, CEO, New Era Energy & Digital
What’s next
The joint venture partners are expected to finalize the project financing and begin the first phase of construction on the Texas Critical Data Centers campus in the coming months.
The takeaway
This data center project represents a strategic investment in the Permian Basin's energy infrastructure, leveraging the region's abundant natural gas resources to power large-scale digital infrastructure in a more sustainable and cost-effective manner. The partnership between New Era and Stream Data Centers aims to position the Midland-Odessa area as a hub for data center development and operation.
