Fermi America HyperGrid (Project Matador)

Capacity: announced vs energized

Announced-to-energized gap: 11 GW. Every figure below is a single dated, sourced claim. Current best per series resolves by evidence tier, then date. See the methodology.

Promised online: Q4 2026. 3 months away. Claimed by Fermi America (Rick Perry / company statements) (source).

Construction evidence

Dated satellite imagery of the site itself, oldest to newest, with the campus milestones that landed in each window. This is what the site looked like from orbit while announcements, permits, and energizations were dated into our ledger, so bare land, grading, and building mass tell their own story alongside the paper trail. Sentinel-2 true color, 10 m resolution, cloud-free scenes; click any frame to expand it.

Delivery paceAnnounced Q2 2025 · live Q3 2026 · 1 yr 2 mo build

• 2025-06announced: 11 GW
• 2025-10Nasdaq IPO proceeds · $683M
• 2026-01under construction: 2.30 GW
• 2026-01Site buildout invested to date · $1.4B
• +2 more

Dated Sentinel-2 imagery, gated to hand-verified site coordinates. Milestones synthesized from the campus's own capacity ledger, financial claims, and lifecycle events; each chip links to its source. How we source and verify it: satellite construction evidence.

Key facts

On the data center map

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The deal

developer

Fermi America (Fermi Inc) · Developer/owner; co-founded by former US Energy Secretary Rick Perry. Publicly traded on Nasdaq.

developer

Texas Tech University System · Partner in the HyperGrid campus.

financier

Keystone National Group / Cape Commercial Finance · $200M equipment financing facility.

grid operator

SPP · Amarillo/Texas Panhandle sits in SPP territory; however the campus is designed behind-the-meter on a private grid, cutting out utilities.

Power

Power source

mixed

Grid operator

SPP

Interconnection

No interconnection queue position: the campus is built behind the meter, generating its own power on site rather than waiting for a grid connection. The Panhandle location sits in Southwest Power Pool territory served by Xcel, not ERCOT.

Water

Municipal water off the Ogallala. Amarillo agreed to sell the campus 2.5 million gallons a day on a 20 year contract with two 10 year renewal options, at twice the rate a commercial user inside the city pays, and Fermi covers the cost of the two new Carson County wells the city needs to supply it. Fermi's own filing puts its expected need at up to 5.5 million gallons a day, and the city expects it back asking for that. Use is metered, but neither the water agreement nor the tax abatement says what happens if Fermi exceeds it.

Advanced nuclear reactors (four ~1 GW units), 4 GW nuclear, Permitted. NRC reviewing applications for four 1-GW reactors per external reporting; unbuilt. Largest nuclear component of the campus.

Combined-cycle natural gas plant, gas, Under construction. Described as the nation's biggest combined-cycle gas project; anchors near-term power (first 1 GW by late 2026).

Solar + battery energy storage (BESS), solar storage, Announced. Solar, wind and BESS integrated into behind-the-meter HyperGrid; capacities not itemized.

The SPP grid demand right now: 28.9 GW (EIA-930, 2026-09-27 07:00). Fermi America HyperGrid's announced 11 GW would be 38.0% of the grid's current load.

County water status: Exceptional drought (D4) in Carson County, week of 2026-09-22 (US Drought Monitor). Data centers are large water users for cooling; this is the neutral local water picture.

Why here

Fermi America HyperGrid sits on private land in Texas, Amarillo. It connects to the SPP grid, draws on mixed power, interconnection is No interconnection queue position: the campus is built behind the meter, generating its own power on site rather than waiting for a grid connection. The Panhandle location sits in Southwest Power Pool territory served by Xcel, not ERCOT.. This siting summary is composed from the record's held fields, not speculation; see methodology.

Financial structure

Site buildout invested to date

$1.4B press release ↗

Keystone/Cape equipment facility

up to $200M. Equipment financing facility from Keystone National Group and Cape Commercial Finance to accelerate first 2.3 GW press release ↗

Nasdaq IPO proceeds

$683M sec filing ↗

Regulatory paper trail

The filings and rules on record for this site and its jurisdiction, most recent first. Each is a sourced, dated artifact you can follow to the primary document.

Investment, workforce and specs

Cooling

Hybrid dry and wet cooling towers, claimed to lose more than 80 percent less to evaporation than conventional all-wet towers source ↗

Water (gal/day)

2,500,000 source ↗

Timeline

1. Show 14 earlier updates
2. Aug 2026
   claim recorded
   metric:cooling_type
3. Sep 2026
   Current: Under construction

Sources

• TTU System and Fermi America Announce the World's Largest Advanced Energy and Intelligence Campus ↗ · Texas Tech University System
• Fermi makes stock market debut, valued at almost $15bn ↗ · DataCenterDynamics
• Fermi America Makes Initial Draw on $200M Equipment Facility to Accelerate First 2.3GW of Project Matador's 11GW HyperGrid ↗ · PR Newswire / Fermi America
• Fermi Inc. Form 8-K FY2026 exhibit ↗ · SEC EDGAR
• Fermi America Project Matador power station ↗ · Global Energy Monitor
• Fermi America and MVM EGI Announce Water-Saving Hybrid Cooling Agreement ↗ · PR Newswire
• Just facts: Fermi America and Project Matador ↗ · Amarillo Tribune

10010870-fc71-428e-b78e-66f972d37c33 · Tracked with DEPLOY's verified-vs-claimed methodology. Every term is defined in the glossary. Announced numbers are claims, not built capacity.

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