Meta and investment management firm BlackRock have formed a joint venture to develop a data center campus in El Paso, Texas.
The campus will offer 1GW of compute capacity and will see Meta investing more than $10 billion in the project located off of Stan Roberts Sr Avenue in El Paso.
– Meta
Meta will provide construction management, administrative, and property management services for the campus and will be the initial sole occupant of the campus upon completion, while BlackRock brings its capital at scale and expertise in infrastructure investment to the JV.
BlackRock funds will own 80 percent interest in the venture, with Meta owning the remaining 20 percent. The two have committed to funding their respective pro rata share of the approximately $14 billion in total development costs, including construction and infrastructure.
