12th Aug 2026 10:19
(Alliance News) - Fermi Inc on Wednesday announced a strategic alliance to ramp up energy generation at Project Matador.
The Texas-based, data centre-focused real estate investment trust said it executed a framework agreement with Hillcore Energy Capital Corp under which Hillcore will finance, build, own and operate the Hillcore Power Center, an around 2.6 gigawatt power complex at Fermi's Project Matador campus in Carson County, Texas.
Construction of the first power block of around 350 megawatts will start on execution of definitive agreements, with first power targeted within 24 months of notice to proceed.
The construction of the Hillcore Power Center will run in parallel with Fermi's Main Campus power generation buildout, Fermi said.
Fermi said the alliance is aimed at bringing the Project Matador campus to around 4.8 gigawatts of on-site power "years faster than a self-build path", as it noted a "decisive" advantage for artificial intelligence and hyperscale customers.
Jacobo Ortiz, Fermi co-president & chief operating officer, said: "Power is the gating asset for AI, and this alliance brings gigawatts to our customers faster than any self-build path in the market. Hillcore finances, builds, and operates the plant; Fermi delivers dedicated, behind-the-meter power matched to every tenant lease, with our balance sheet intact and a clear path to owning the asset."
Fermi shares rose 1.4% to USD7.40 each on Wednesday morning in London. On the Nasdaq in New York, Fermi shares had closed 21% higher at USD7.12 on Tuesday.
By Tom Budszus, Alliance News slot editor
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