Data center developer Rowan Digital Infrastructure has closed $975 million of construction financing to build out its upcoming campus in Maryland. The funds will be used to build the first phase of a hyperscale data center campus in Maryland at the TPG-owned site in Frederick County. Phase one of construction is well underway, with additional phases in advanced development.
“Rowan appreciates our lenders’ support for this critical hyperscale project,” said Kevin Mammel, Rowan’s chief financial officer. “With the scale and pace of Rowan’s development pipeline advancing rapidly, strong financing partners are critical to supporting Rowan in delivering sustainable, energy-efficient data centers that meet the timing demands of our hyperscale customers. With over 1.5GW of contracted grid capacity secured and multiple hyperscale data center projects in development across the US, our engagement with our financing partners is set to deepen as we continue to expand the business.”
“Our hyperscale data center campuses provide the critical infrastructure needed to power cloud, AI, and advanced computing,” said Charley Daitch, CEO of Rowan Digital Infrastructure. “Rowan’s focus is on delivering energy-efficient, sustainable data centers that are the foundation of the digital economy and the ‘picks and shovels’ of emerging technologies. Data center capacity is expected to grow by more than 20% annually over the next decade and Rowan is helping to meet this incredible demand by designing and building world-class facilities utilizing a team of industry veterans expert in hyperscale campuses and the evolving needs of our customers.”
