A powered shell behind the meter. Delivery follows Fermi’s construction schedule, not an interconnection queue.
~6GW
Natural gas permitted by the TCEQ
~2.2GW
Turbines landed in Texas
222MW
First facility under binding lease
up to ~15M sq ft
Data-center capacity planned at full build-out
Delivery phasesGuidance, August 2026
How capacity is delivered.
Capacity is released as construction phases complete.
Phase 1, 2027Target (forward-looking)
~200 MW
First power
Grid-supplied first, then on-site generation to the anchor tenant from July 2027.
Phase 2, 2028Target (forward-looking)
~2.2 GW
Landed fleet in service
The nine turbines already in Texas, installed and generating.
Phase 3, ~2029Target (forward-looking)
~4.8 GW
Hillcore power center
If the Hillcore alliance reaches definitive agreements and is built.
Phase 4, full buildPlanned (forward-looking)
~17 GW
Full build, including nuclear
Subject to permits, land closings and financing. Nuclear in the 2030s if licensed.
How a lease is reached
Expression of interestThe prospective tenant states the capacity required, the year it is needed and the density profile. Neither party is committed.
Phase allocationCapacity is matched to a delivery phase against the construction schedule, with the status of each figure disclosed.
Term sheet and leaseA data-center lease with phased delivery, in the structure of the first binding lease signed in August 2026.
Specifications
What a tenant is leasing.
The offerGeneration, switchyard, fiber and building under one lease with one landlord. Power reaches the hall from the campus switchyard, not from a public interconnection.
Generation~6 GW of natural gas permitted and ~2.2 GW landed in Texas. Four AP1000 units are docketed at the NRC. Solar and storage are planned and neither is permitted.
BuildingsDesigned for direct liquid cooling. The first facility, 222 MW, is designed to support tens of thousands of AMD Instinct GPUs per the lease announcement. Rack density, redundancy and floor loading are scoped per tenant and are not yet published.
FuelNatural-gas supply arrangement with Energy Transfer for up to ~300,000 MMBtu a day through the Transwestern interconnect; ~4.6 miles of on-site high-pressure pipeline installed.
WaterUp to 2.5 million gallons a day contracted from the City of Amarillo. Heat rejection is dry and hybrid at the plant and closed-loop in the halls, so compute growth does not scale water draw proportionally.
Campus switchyard, concept render
Leasing
How capacity is leased.
The TensorWave lease is the template: phased delivery against construction, a 15-year initial term running from the final phase, two five-year renewals, and expansion options. A tenant may also bring its own power configuration instead of taking Fermi generation.
Questions
A power purchase agreement is a financial contract for electricity that is still delivered through the public transmission system, so the buyer remains exposed to transmission constraints and curtailment on that system. On Project Matador the generation and the data-center load share one private high-voltage system, and the public-grid connection is used for start-up and backup. Reliability therefore depends on the campus’s own generation fleet, switchyard and storage.
Training workloads can create rapid load steps. The campus design pairs rotating generation (gas turbines now; nuclear later, if licensed) with battery storage intended to respond to step events. Because generation and load share one private system, frequency events are managed within the campus rather than exchanged with the public grid.
Not at first delivery. Generation in 2027 is natural gas. Solar is planned to displace some daytime gas generation as it is built, and on-site nuclear is planned for the 2030s if and when licensed. Lease structures are designed to allow blocks of capacity to move onto nuclear as units enter service. Hourly-matched carbon-free power is a design objective. It is not a present capability today.
