Time for another data center update across the U.S. as technology firms are flexing their construction muscles.
The latest? Meta has struck a $27 billion financing deal with Blue Owl Capital to fund its biggest data center project globally, as large technology companies race to build out the infrastructure needed to power their artificial intelligence ambitions. It proved to be Meta’s largest-ever private capital deal.
Under the deal, Meta will keep about 20% equity in the Louisiana project while Blue Owl Capital, the alternative asset manager, will manage the majority. Blue Owl kicked in nearly $7 billion cash for the joint venture and Meta made a one-time payout of nearly $3 billion.
The data center will be located n Richland Parish, Louisiana and be called Hyperion. It will deliver more than 2 gigawats of compute capacity.
Growth in Oklahoma
Just as data center growth in Oklahoma is being challenged and questioned by residents and ratepayers in some proposed sites, the reservations and opposition are also observed in other states.
What’s happening elsewhere?
- A planned 166 MW Texas data center complex will draw power directly from a “stranded” wind farm in an area where there aren’t enough transmission lines to deliver its power to the grid. (Texas Tribune)
- Leaders at Michigan’s two large investor-owned utilities anticipate a potentially large spike in electricity demand from data centers that consumer advocates worry will lead to higher costs for ratepayers. (Detroit News)
- Advocates accuse NorthWestern Energy of violating Montana law by moving forward on data center power supply agreements without regulators’ approval and call on the utility to create a separate rate class for the facilities to protect other ratepayers. (Daily Montanan, Utility Dive)
- Southern Arizona residents continue to protest the proposed Project Blue data center near Tucson, saying it would use too much water and power. (Arizona Luminaria)
- A new AP-NORC poll finds about 4 in 10 U.S. adults say they’re “extremely” or “very” concerned about AI’s environmental impacts — more than the percentage worried about the impacts of cryptocurrency, meat production, and air travel. (Associated Press)