New updates have been reported about Fermi America.
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Fermi America has obtained a $500 million non-recourse equipment financing facility from MUFG Bank to accelerate development of its 11-gigawatt private power campus in partnership with the Texas Tech University System. The deal underwrites the first 2.3 gigawatts of long-duration, highly reliable power and signals strong institutional confidence in Fermi America’s strategy to build next-generation private electric grids for AI and advanced computing.
Proceeds will fund the purchase of three Siemens Energy F-class SGT6-5000F gas turbines, repay an existing loan, and support construction, delivery, and deployment of additional turbines, lifting Fermi America’s total controlled generation capacity to more than 2 gigawatts. Executives describe the MUFG “warehouse” structure as repeatable for future gigawatt-scale equipment buys ahead of project-level financing, enhancing execution certainty, strengthening the balance sheet, and positioning the company to scale what is planned to be the largest integrated power and AI data center campus in the United States.