Meta has selected BlackRock, together with Global Infrastructure Partners and HPS Investment Partners, both part of BlackRock, as its capital partner for the development of a data center campus under construction in El Paso, Texas, with total development costs expected to reach approximately $14 billion.
Funds managed by BlackRock will own an 80 percent interest in the venture, while Meta will retain a 20 percent stake. The parties will fund their respective shares of the development costs for the buildings and associated power, cooling and connectivity infrastructure.
At financial close, Meta will contribute land and construction-in-progress assets valued at approximately $2.3 billion, while BlackRock will make a cash contribution of approximately $4.9 billion. A portion of BlackRock’s investment will be funded through a $12.5 billion debt financing.
The campus is expected to provide 1 gigawatt of compute capacity. Meta will provide construction management, a
