Fermi America has secured a 200 MW power agreement with Xcel Energy’s SPS for its Project Matador campus, with phased delivery starting in 2026.
Fermi America signed a definitive Electric Service Agreement with Xcel Energy’s SPS subsidiary to supply up to 200 MW of electricity for its 11 GW Project Matador Campus. Delivery will begin at 86 MW in January 2026, scaling to full capacity. The agreement supports the development of a large-scale data center and technology campus.
Fermi America™ (Nasdaq & LSE: FRMI) today announced a signed, definitive Electric Service Agreement (ESA) with Southwestern Public Service Company (SPS), a subsidiary of Xcel Energy, to provide up to 200 megawatts (MW) of electrical capacity to Fermi's 11 GW Project Matador Campus.
Under the terms of the ESA, and applicable tariffs, Xcel Energy's SPS subsidiary will begin delivering 86 MW of electrical capacity in January 2026, eventually ramping up to 200 MW.