SourceMeta and BlackRock announced a strategic venture to develop, finance, and own a 1-gigawatt data center campus in El Paso, Texas.
- Funds managed by BlackRock will own an 80% interest in the venture while Meta retains 20%
- Total development costs are approximately $14 billion with $12.5 billion debt financing
- Meta will provide construction and property management services and act as initial sole occupant
- Data center capacity is expected to begin coming online in 2028