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Fermi America Executes Electric Service Agreement with Southwestern Public Service Company, a Subsidiary of Xcel Energy, Securing Up to 200 MW of Power
AMARILLO, Texas, Dec. 5, 2025 /PRNewswire/ -- Fermi America™ (Nasdaq & LSE: FRMI) today announced a signed, definitive Electric Service Agreement (ESA) with
About this update from Fermi Inc.
[{"type":"text","content":"AMARILLO, Texas, Dec. 5, 2025 /PRNewswire/ -- 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.\n \n \n \n \n \n \n \nUnder 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.\"This agreement is yet one more example of Fermi transforming intent into execution, with the strong commercial and technical support of our friends at Xcel Energy,\" said Larry Kellerman, Chief Power Officer of Fermi America. \"Securing reliable and cost-effective power from Xcel Energy today and working together with them to grow our relationship over time is a key component of Fermi's plans.\" \"Partnering with Xcel Energy helps demonstrate that reliable, large-scale energy for artificial intelligence can be developed on time and on budget,\" said Toby Neugebauer, Co-founder and CEO of Fermi America. The ESA provides up to 200 megawatts of power to Fermi's Project Matador Campus in Amarillo, an important part of our power supply portfolio to support large-scale artificial intelligence and computing operations. The electricity will be delivered through SPS's high-voltage 115-kilovolt transmission system, ensuring reliable electrical service.\"Xcel Energy is focused on meeting the growing energy needs of the Texas Panhandle and is pleased to work with Fermi America on this project,\" said Adrian Rodriguez, president, Xcel Energy Texas –New Mexico.About Fermi AmericaFermi America™ (Nasdaq & LSE: FRMI) (https://fermiamerica.com/) is pioneering the development of next-generation private electric grids that deliver highly redundant power at gigawatt scale, required to create next-generation artificial intelligence. Co-founded by former U.S. Energy Secretary Rick Perry, and Co-founder and former Co-Managing Partner of Quantum Energy, Toby Neugebauer, Fermi America™ combines cutting-edge technology with a deep bench of proven world-class multi-disciplinary leaders to create the world's largest, 11 GW next-gen private grid. The behind-the-meter Project Matador campus is expected to integrate the nation's biggest...