Meta Announces Collaboration with BlackRock on El Paso Data Center Project Worth Over $10 Billion

Odaily Planet Daily News Meta has announced a collaboration with BlackRock on a new strategic project to develop the El Paso data center. The El Paso data center represents an investment of over $10 billion by Meta. A fund managed by BlackRock will hold an 80% stake in the project, while Meta will retain the remaining 20% equity. The parties have committed to proportionally share the costs of approximately $14 billion in building development costs, as well as the long-life power, cooling, and connectivity infrastructure within the campus. At the financial close, Meta will contribute risk land and construction-in-progress assets valued at approximately $2.3 billion, while BlackRock will make a cash contribution of approximately $4.9 billion. Meta will receive a one-time distribution of approximately $1 billion to align with the 80/20 ownership split. A portion of BlackRock's investment will be funded by proceeds from a $12.5 billion debt financing. (Cailianshe)