Fermi secures $165M equipment finance facility
Facility will fund gas turbines for Fermi's data center campus in Texas
Data center development and energy company Fermi America has landed a $165 million senior-secured equipment loan facility to finance gas turbines for its large-scale data center complex, Project Matador.
The facility, provided by Beal Bank USA affiliate CSG Investments, will cover remaining progress payment obligations to Siemens Energy for six SGT-800-57 gas turbines, according to a Fermi release today. Delivery of the turbines is slated for 2028.
The loan is structured as a repeatable warehouse facility to support future turbine purchases ahead of project-level financing.
The latest transaction follows two financing deals completed in February: A $500 million turbine warehouse facility with MUFG Bank, and a $200 million facility from Keystone National Group.
Project Matador will be a private energy and data center campus in Amarillo, Texas, integrating natural gas, nuclear, solar and battery storage. The project is expected to generate up to 17 gigawatts of firm, low-carbon power, with gas turbines providing near-term capacity and advanced nuclear reactors serving as a long-term backbone.
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