Announcement:
Quinbrook’s Rowan Digital Infrastructure Secures $975 Million Financing for Hyperscale Campus in Maryland
First Phase of Hyperscale Mega-Campus Commences Construction
DENVER (January 16, 2025) – Rowan Digital Infrastructure (“Rowan”), a sustainable hyperscale data center developer and portfolio company of Quinbrook Infrastructure Partners, today announced it has closed $975 million of construction financing to build the first phase of a flagship hyperscale data center campus in Maryland, United States. Phase one construction is well underway, with additional phases in advanced development.
The financing was led by MUFG Bank, Ltd. (“MUFG”) 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. Thirteen lenders in all participated in the financing.
“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 1,500 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.”
“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.”
About Rowan Digital Infrastructure
Rowan Digital Infrastructure develops sustainable data center campuses for hyperscale customers, offering build-to-suit solutions that enable rapid and cost-effective scaling. Founded 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.
About Quinbrook Infrastructure Partners
Quinbrook Infrastructure Partners (http://www.quinbrook.com) is a specialist investment manager focused exclusively on the infrastructure needed to drive the energy transition in the UK, US, and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested c. USD 6.9 billion of equity capital in 40 GW of energy infrastructure assets representing a total transaction value of USD 29.8 billion. Quinbrook has completed a diverse range of direct investments in both utility and distributed scale onshore wind and solar power, battery storage, reserve peaking capacity, biomass, fugitive methane recovery, hydro and flexible energy management solutions in the UK, US, and Australia. Quinbrook is currently developing and constructing some of the largest renewables and storage infrastructure projects in the UK, US, and Australia.