Rowan Digital Infrastructure, a hyperscale data center developer and portfolio company of Quinbrook Infrastructure Partners, announced it closed $975 million of construction financing to build the first phase of a flagship hyperscale data center campus in Maryland, United States. The Phase one construction is underway, with additional phases in advanced development.
Rowan Digital Infrastructure develops sustainable data center campuses for hyperscale customers, offering build-to-suit solutions that enable rapid and cost-effective scaling. Launched in November 2020, Rowan is supported by strong capital partnerships and a team of industry veterans. The company is actively developing multiple 200-500+ MW campuses across the U.S. to meet the next-generation capacity needs of hyperscale operators in a dynamic market.
This financing was led by MUFG Bank and Sumitomo Mitsui Banking Corporation (SMBC) as co-structuring agents. MUFG, SMBC, Mizuho, and Bank of Nova Scotia (Scotiabank) served as coordinating lead arrangers and joint bookrunners. And 13 lenders in all participated in the financing.
KEY QUOTES:
“Rowan appreciates our lenders’ support for this critical hyperscale project. 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 1,500 MW 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.”
– Kevin Mammel, Rowan’s chief financial officer
“Our hyperscale data center campuses provide the critical infrastructure needed to power cloud, AI and advanced computing. 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.”
– Charley Daitch, CEO of Rowan Digital Infrastructure
