Fermi America, the company behind the planned 11GW data center mega campus in Amarillo, Texas, has signed two Letters of Intent (LOI) with Siemens Energy to support energy infrastructure build-out at the site.

Under the first LOI, Siemens will negotiate the delivery of three F-class SGT6-5000F gas turbine units, with a capacity of up to 1.1GW. Delivery of the units is expected by 2026.

The units are heavy-duty gas turbines designed for 60Hz power generation and have an output of up to 260MW. According to Siemens, the turbines can be run on a wide range of fuels, including natural gas, liquified natural gas, and oils.

Following this agreement, Fermi has now contracted almost 2GW of natural gas turbine capacity to power its planned data center campus. In July, the company purchased more than 600MW of natural gas generation capacity through two separate transactions. The acquired assets included nine natural gas turbines, which the company stated will support its goal of delivering 1GW of AI power at the site by 2026.

The second LOI between Fermi and Siemens will support collaboration on the integration of Siemens steam turbines, generators, and control systems into Fermi's nuclear power asset base. As part of the LOI, the companies will collaborate to deliver on-site nuclear generation, supporting the project's full build-out.

"Fermi America is doing what it takes 24/7 to build exactly what the President has asked for, highly reliable, unshakable, base load energy — through our 11GW gas-bridged nuclear build. We understand the stakes are high and we are playing to win – because that's how America keeps its AI edge," said Toby Neugebauer, CEO and co-founder of Fermi.

Fermi has signed several agreements to support nuclear energy development at the site. Earlier this year, the company announced its intention to install four Westinghouse AP1000 reactors. Each AP1000 is a Generation III+ pressurized water reactor with an output capacity of roughly 1,100–1,117MWe. Fermi is collaborating with Westinghouse to finalize a Combined Operating License Application, with the goal of expediting the approval process.

Concerns over the delivery of the reactors are prominent, with the most recent US installation of AP1000 units taking more than seven years longer than expected and costing approximately $17 billion more than was originally budgeted.

Fermi has also signed two other agreements to support its nuclear ambitions. The company signed two Memoranda of Understanding with South Korean firms Hyundai and Doosan Enerbility to support the deployment of the nuclear reactors on the site.

The LOI’s with Siemens follow the formal launch of an initial public offering (IPO) by Fermi, targeting a valuation of up to $13.16bn. The IPO, announced last week, will see Fermi offer 25,000,000 shares of its common stock, and grant the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of common stock at the IPO price.

Fermi intends to use the proceeds from the IPO, in addition to its existing assets, to support business growth, enhance its workforce, and increase financial flexibility in support of its planned data center project.

The project, initially announced in June, is still in its very early stages of development. According to the company, it has commenced with geotechnical work and “expects” to deliver 1GW by the end of 2026.

Earlier this month, it successfully raised $100 million as part of a Series C equity funding round, led by Macquarie Group. In addition, Fermi also secured a $250m senior loan facility, funded solely by Macquarie’s commodities and global markets business, with $100m drawn at close.