Fermi signs lease agreement with Mobile Power Solutions for 157.5 MW of turbines

Fermi (FRMI), in partnership with the Texas Tech University System, has entered a long-term capital lease agreement with Mobile Power Solutions for seven GE TM2500 gas turbines, totaling 157.5 MW of nameplate capacity. These turbines expand Fermi’s natural gas platform – a cornerstone of Project Matador, the world’s largest 11GW private HyperGrid campus. The turbines will be delivered in Q4, entering commercial operation in early 2026 as part of Fermi’s first 500 MW of generation capacity. The 20-year capital lease marks the beginning of a long-term partnership between Fermi America and Mobile Power Solutions. As part of the agreement, Fermi and MPS intend to collaborate on future acquisitions of additional TM2500 units.