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Fermi Inc on Friday said it has secured its second equipment financing facility in two months to accelerate the delivery of six gas turbines for its private grid campus in Texas. The Texas-based real estate investment trust, which focuses on data centres and trades as Fermi America, said it secured a $165 million senior secured, first-lien delayed-draw term loan from CSG Investments Inc. Fermi shares were down 4.9% to $6.02 on Friday morning in London. The latest loan, which brings the company’s equipment financing borrowings to over $865 million, will finance the remaining progress payments for six gas turbines ordered from Siemens Energy AG. They have a scheduled delivery date of 2028. In addition to this transaction, Fermi America financed the turbines by securing $500 million from a facility provided by Chiyoda, Japan-based MUFG Bank Ltd, and around $200 million from a second facility provided by Keystone National Group LLC, a private equity firm based in Salt Lake City, Utah. Both transactions were closed last month. The turbines will help power the company’s Matador project, a private grid in Amarillo, Texas, designed to generate up to 17 gigawatts of on-demand power through a mix of natural gas, solar, and battery storage. Fermi has already received a Clean Air Permit for six gigawatts of power generation by the environmental regulator in Texas, and plans to file for a further five gigawatts permit. Chief Executive Officer Toby Neugebauer said: ‘Every dollar of capital we secure is highly intentional and is a vote of confidence in project Matador. ‘At a time when supply chain logs for long lead time items and connection queues are holding back America’s leading companies, Fermi is helping provide the ramp needed to access clean, redundant power certainty in an uncertain market’. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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