Fermi Inc. and Hillcore Partner for 2.6 GW Power Expansion at Project Matador

Fermi Inc. announced a framework agreement with Hillcore Energy Capital to develop a significant power project. Under a Build-Own-Operate-Transfer (BOOT) structure, Hillcore will finance, build, own, and operate the Hillcore Power Center at Fermi's Project Matador campus in Texas. The initiative is set to enhance Fermi’s power supply from Project Matador to 4.8 gigawatts over approximately 30 months.

The Hillcore Power Center will feature 2.5 GW of natural gas-fired generation, along with 100 MW of solar and battery storage. Construction will commence with a 350 MW block, aiming for initial power delivery within 24 months. This strategic alliance enables capital-efficient growth for Fermi with no upfront costs and includes an option for Fermi to acquire the facility after ten years.