Meta Announces New Strategic Venture with BlackRock to Develop Data Center in El Paso
BlackRock has formed a strategic venture with Meta Platforms to develop and own a 1-gigawatt data center campus in El Paso, Texas, backed by approximately $14 billion in total development costs. Funds managed by BlackRock will hold an 80% ownership interest, contributing roughly $4.9 billion in equity and securing $12.5 billion in debt financing, while Meta retains 20% ownership and serves as the sole tenant via long-term lease agreements.
Key figures
- Deal Value Usd
- 14000000000
- Online year
- 2028
- Debt financing
- $12.5 billion
- Meta rvg threshold
- $13 billion
- Compute capacity gw
- 1
- Meta asset contribution
- $2.3 billion
- Ownership split blackrock
- 80%
- Blackrock equity contribution
- $4.9 billion
AI analysis
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