Fermi Secures $165 Million Financing for Siemens Gas Turbines in Texas Project Matador
Fermi Inc has secured a $165 million senior secured loan from CSG Investments to finance six Siemens gas turbines for its Texas-based Project Matador, aimed at generating up to 17 gigawatts of power. This loan increases the company's equipment financing to over $865 million. The turbines, scheduled for delivery in 2028, are part of a broader strategy to provide reliable power through a mix of natural gas, solar, and battery storage.
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Fermi Inc. has secured a $165 million senior secured loan from CSG Investments to fund six Siemens Energy gas turbines for Project Matador in Texas. This financing raises Fermi's total equipment funding to over $865 million.
The turbines are set for delivery in 2028 and will support a private grid capable of generating up to 17 gigawatts of power. Previously, Fermi obtained $500 million from MUFG Bank and around $200 million from Keystone National Group for the same project. The company has received a Clean Air Permit for six gigawatts and plans to file for an additional five gigawatts.
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