Fermi Forms 2.6 GW Power Alliance
Fermi and Hillcore agree to build a 2.6 GW power complex at Project Matador in Texas
Fermi Inc. (NASDAQ: FRMI )(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), announced the execution of a framework agreement with Hillcore Energy Capital Corporation ("Hillcore") under which Hillcore will finance, build, own and operate the Hillcore Power Center, an approximately 2.6 GW power complex at Fermi's Project Matador campus in Carson County, Texas, under a Build-Own-Operate-Transfer (BOOT) structure.
The Hillcore Power Center will comprise approximately 2.5 GW of natural gas-fired generation, developed in phases, together with approximately 100 megawatts (MW) of solar generation and battery energy storage.
Construction of the first power block, approximately 350 MW, will begin on execution of definitive agreements, with first power targeted within 24 months of notice to proceed.