Fermi, Hillcore Plan 2.6-GW Power Complex at Project Matador in Texas, US

02:39 AM EDT, 08/12/2026 (MT Newswires) -- Fermi (FRMI.L), d/b/a Fermi America, said Tuesday it signed a framework agreement with Hillcore Energy Capital to develop a 2.6-gigawatt power complex at its Project Matador campus in Texas, US. Hillcore will finance, build, own and operate the facility under a build-own-operate-transfer structure, allowing the electric grid developer to add the capacity without upfront capital spending. The complex is expected to include 2.5 GW of natural gas-fired generation, 100 megawatts of solar power and battery storage. Construction of an initial 350-MW block is expected to begin after definitive agreements are signed, with first power targeted within 24 months of notice to proceed. The collaboration is expected to increase Project Matador's on-site power capacity to 4.8 GW over the next 30 months.