Meta BlackRock Joint Venture Secures $12.5B Debt For El Paso Data Center

Meta and BlackRock form joint venture for $10B+ El Paso data center. BlackRock holds 80% stake, funded partly by $12.5B debt, with Meta contributing land and assets.

Woofun AI reports that Meta has entered a strategic partnership with BlackRock to develop the El Paso data center, a project valued at over $10 billion. BlackRock will acquire an 80% equity stake, while Meta retains 20%, with both parties sharing development costs proportionally. At financial close, Meta contributes land and assets worth approximately $2.3 billion, whereas BlackRock provides a $4.9 billion cash injection. Meta receives a one-time distribution of roughly $1 billion to align with ownership ratios. Part of BlackRock’s capital comes from a $12.5 billion debt financing deal.