Fermi chooses CBRE to operate Texas data centre in five-year deal
Fermi Inc on Friday said it had selected CBRE Group Inc to operate and maintain its first data centre at its Project Matador campus in Texas.
The Dallas, Texas-based power and data centre developer said the five-year agreement would make CBRE the exclusive operator and maintenance provider for 'building one', Fermi's first data centre at its Project Matador campus. The agreement can be renewed for further five-year terms.
Project Matador is Fermi's planned 17-gigawatt private power and artificial intelligence campus in the Texas Panhandle, near Amarillo. Fermi said CBRE would begin transition work once it receives notice to proceed, with site leaders arriving up to 120 days before building one is ready for service.
Fermi Chief Executive Officer Lee McIntire said having the American commercial real estate services and investment firm on board "means that when building one is ready for service, the people, the programs, and the procedures to run it are already in place."
Scott Howard, president for the Americas at CBRE's Data Centre Solutions business called Project Matador "one of the most significant data centre campuses being built in the country."
He added that mobilising large-scale data centre campuses was core to CBRE's business and that having its team on site early would mean building one was ready to perform from day one.
The agreement follows several recent milestones at Project Matador, including the arrival of the first Siemens Energy AG SGT6-5000F turbines and Fermi's signing of a binding lease with TensorWave as its first customer.
Fermi shares closed down 5.6% at USD4.55 in New York on Thursday. The stock was up 5.2% at USD4.67 in London on Friday.
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