EdgeConneX is working to syndicate roughly $3 billion in loans to build a 1-gigawatt data center campus in New Albany, Ohio, purpose-built for Meta Platforms. The project, called Prometheus, represents one of the largest single-site data center financing efforts to date and introduces a financial structure the industry hasn’t really seen before: bundling the facility construction and its dedicated power assets into one package.
Banks including Natixis, MUFG, and Societe Generale began marketing the debt in early April 2026. The deal underscores a broader reality reshaping the data center industry: it’s no longer enough to just build the buildings. You need to finance the electricity too.
A new financing playbook for a power-hungry industry
The traditional approach to funding data centers treats the real estate and the energy supply as separate problems. EdgeConneX is merging them. By integrating off-grid power assets directly into the loan structure, the company is effectively telling lenders that the data center and its power source are a single, inseparable investment.
For Meta, the arrangement supports its aggressive AI infrastructure strategy. The company needs enormous compute capacity for training and running large language models, and a 1-gigawatt campus is the kind of facility that can deliver it.
