Fermi America signed a memorandum of understanding with Hyundai Engineering & Construction (Hyundai E&C) to develop the nuclear component of what it describes as the world’s largest private grid project, designed to power next-generation AI. The agreement, signed in Seoul with the Texas Tech University System as a partner, outlines joint work on feasibility studies, design, and engineering, with construction scheduled to begin in 2026. The project aims to deliver up to 11 GW of hybrid energy, combining nuclear, combined-cycle gas, solar, and storage to support massive data center infrastructure.
Hyundai E&C brings significant nuclear experience to the partnership, having completed 22 nuclear projects to date, including 18 reactors in Korea and four at the Barakah Nuclear Power Plant in the United Arab Emirates. The Barakah project, completed on time and within budget, is widely regarded as a benchmark for international nuclear delivery. Hyundai currently has two reactors under construction in Korea and two more in the engineering phase in Bulgaria. Fermi America believes Hyundai’s track record will accelerate timelines and help de-risk its ambitious U.S. deployment.
On June 17, Fermi America submitted its Combined Operating License Application (COLA) to the Nuclear Regulatory Commission (NRC) for AP1000 nuclear units. The NRC accepted the application for review in record time. With Hyundai E&C on board, Fermi America expects to begin construction on its Texas nuclear complex next year, targeting first reactor operations by 2032.
- Hyundai E&C has built 22 nuclear projects, with four more underway
- The partnership supports Fermi America’s plan for an 11 GW private grid
- Energy mix to include nuclear, natural gas, solar, and battery storage
- COLA submitted June 17, 2025, for AP1000 nuclear units in Texas
- First reactor expected online by 2032
“We couldn’t be more pleased to partner with the team at Hyundai E&C to power the future of AI,” said Fermi America co-founder Toby Neugebauer. “America doesn’t have time to practice – we need to work with proven partners like Hyundai, who have a successful track record of planning and building safe, clean, new nuclear energy.”
🌐 Why it Matters: This agreement signals growing momentum behind private investment in nuclear energy for AI infrastructure, an unprecedented move in the U.S. power sector. If successful, Fermi America’s private grid could reshape how data center operators think about baseload energy supply, creating a new model where nuclear anchors large-scale digital infrastructure.
Fermi America is a privately held energy and infrastructure development company co‑founded by former U.S. Energy Secretary and Texas Governor Rick Perry and investor Toby Neugebauer . The firm aims to build next‑generation, gigawatt‑scale private power grids tailored for AI workloads and large‑scale data centers. Their flagship initiative, the “HyperGrid” campus near Amarillo, Texas, combines nuclear, natural gas, solar, wind, storage, and utility grid power to deliver up to 11 GW of capacity across ~5,800 acres, serving 18 million sq ft of AI data center space
The HyperGrid campus officially launched in June 2025 with Texas Tech University System as a key partner . Fermi America aims to bring its first 1 GW online by late 2026, initially powered by combined-cycle natural gas and solar installations secured via strategic procurement agreements totaling 600 MW in existing generation systems
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