22nd Jul 2026 16:05
(Alliance News) - Fermi Inc on Wednesday said three Siemens Energy AG natural gas turbines have arrived at the Port of Houston for its Project Matador development in Texas, marking a milestone in the build-out of what it expects to become the largest combined-cycle natural gas project in the US.
The Dallas, Texas-based artificial intelligence infrastructure and private power grid developer said the three Siemens Energy SGT6-5000F turbines, each capable of generating up to 260 megawatts in simple-cycle mode, will form the backbone of the second phase of Project Matador near Amarillo, Texas.
Together, the turbines are rated at up to 780 megawatts in simple-cycle mode. The company said commissioning of the equipment keeps it "well ahead of competitors" in bringing gigawatt-scale power online.
The latest delivery follows Fermi's appointment of Spanish engineering firm TSK for early works on the second phase of the project and Primoris Services Corp to construct the balance of plant for six Siemens SGT-800 turbines in the first phase.
Co-President Jacobo Ortiz said: "In the past month we lined up two world-class partners in TSK and Primoris. Now, three of the world's most capable natural gas turbines are on American soil and headed to the Texas Panhandle."
Project Matador spans 7,570 acres in the Texas Panhandle. Fermi said it has invested more than USD1.4 billion in the project to date and expects it to reach around 1.5 gigawatts of capacity through 2027.
The update comes after a period of boardroom turmoil at the company.
Earlier this month, co-founder and largest shareholder Toby Neugebauer criticised Fermi's USD375 million convertible note offering after former Chief Financial Officer Miles Everson resigned from the board, alleging directors were not properly informed of the financing transaction and raising concerns over corporate governance.
On Wednesday, Fermi confirmed that former CFO Miles Everson resigned as director of company.
Neugebauer nevertheless reiterated his confidence that Fermi will secure its first tenant for Project Matador, which he described as a highly valuable AI infrastructure asset.
Shares in Fermi were down 1.2% at USD6.54 in London on Wednesday afternoon.
By Eva Castanedo, Alliance News senior economics reporter
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