Fermi America has secured a $165 million equipment financing facility to fund six gas turbines for its large-scale “Project Matador” energy campus in Texas, underscoring growing demand for dedicated power infrastructure to support AI and high-performance computing. The financing, provided by CSG Investments, will support delivery of Siemens Energy SGT-800 turbines scheduled for 2028 deployment.
The transaction represents Fermi America’s third turbine financing in two months, bringing total equipment financing for Project Matador to more than $865 million. The six SGT-800-57 units—each rated at 57 MW—will be delivered in phases throughout 2028 and will serve as the initial power backbone for the site. The company is using a “warehouse financing” structure to secure long-lead equipment ahead of full project financing, a strategy aimed at mitigating supply chain delays and accelerating deployment timelines.
Project Matador is designed as a private, hyperscale energy campus targeting up to 17 GW of capacity, combining natural gas, nuclear (including planned AP1000 reactors), solar, and battery storage into a unified system. The site already holds permits for approximately 6 GW of generation capacity, with additional permits in progress. Fermi positions the project as a solution to rising demand from hyperscalers, semiconductor manufacturers, and defense-related compute workloads that require reliable, dedicated power outside traditional utility grid constraints.
- $165 million senior secured, first-lien delayed draw term loan from CSG Investments (Beal Bank USA affiliate)
- Financing covers remaining progress payments for six Siemens Energy SGT-800-57 gas turbines
- Turbines will be delivered in pairs throughout 2028, aligning with phased power ramp
- Total turbine-related financing now exceeds $865 million across three facilities
- Project Matador targets 17 GW total capacity with a mix of gas, nuclear, solar, and storage
- Current permitting supports ~6 GW, with additional ~5 GW under development
- Warehouse financing structure enables early procurement of long-lead infrastructure
“Every dollar of capital we secure is highly intentional and is a vote of confidence in Project Matador… Fermi is helping provide the ramp needed to access clean, redundant power certainty in an uncertain market,” said Toby Neugebauer, CEO and Co-Founder of Fermi America.
🌐 Analysis: Fermi America’s financing strategy reflects a broader shift toward vertically integrated, privately funded energy infrastructure tailored for AI data centers, where grid interconnection delays and power availability constraints are becoming critical bottlenecks. Similar initiatives from hyperscalers and energy developers signal a trend toward dedicated “power campuses,” with hybrid generation portfolios designed to balance reliability, emissions targets, and deployment speed.
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