· Context
Fermi names a new CEO and signs a framework for a third party to build 2.6 GW of generation
Lee McIntire became Fermi's CEO effective August 11, 2026. The same day Fermi entered a framework agreement under which Hillcore would finance, build, own and operate up to about 2.6 GW of gas-fired generation at the site under a ground sublease; definitive documents had not been executed.[1][2]
Fermi America (Fermi, Inc.)
What the sources say
- ✓ Verified
Fermi Inc.: Fermi says that on August 11, 2026 it entered a framework agreement under which Hillcore would finance, construct, own and operate up to about 2.6 GW of generation at Project Matador under a build-own-operate-transfer structure and a long-term ground sublease, with Fermi as anchor offtaker under a 20-year power purchase agreement; the transactions remain subject to definitive documentation.[1][2]
- Framework gw
- 2.6
- Ppa years
- 20
- ✓ Verified
Fermi's 10-Q reports the appointment of Lee McIntire as Chief Executive Officer effective August 11, 2026 and of its interim CFO as permanent CFO.[1]