Second Phase Expansion Takes Total Financing Closed for Maryland Campus to $2.2 billion
DENVER (February 25, 2025) – Rowan Digital Infrastructure (“Rowan”), a sustainable hyperscale data center developer and portfolio company of Quinbrook Infrastructure Partners, today announced it closed a further $1.24 billion of construction financing to build the second phase of a flagship hyperscale data center campus in Maryland, United States. The financing builds on the $975 million of financing for the first phase of the project, bringing total debt raised for the campus to $2.2 billion.
The financing was led by Sumitomo Mitsui Banking Corporation (“SMBC”) and MUFG Bank, Ltd. (“MUFG”) as co-structuring agents. SMBC, MUFG, Mizuho, and TD Securities served as coordinating lead arrangers and joint bookrunners. Fourteen lenders took part in the financing, with additional banks expected to join through a secondary syndication in March.
“Rowan is grateful for our lenders’ continued support for phase two of our flagship campus,” said Kevin Mammel, Rowan’s chief financial officer. “Repeat participation from our existing financing partners, including the lead banks from the phase one financing, underscores their confidence in Rowan’s vision, execution, and ability to deliver at scale. The addition of four new lending relationships also reflects the growing appeal of our platform. As our development pipeline surpasses 2,500 MW, deepening these trusted relationships is critical to ensuring we can continue delivering sustainable, energy-efficient data centers that meet the timing demands of our hyperscale customers.”
“We’re thrilled to build on our momentum and expand our data center footprint with the support of this latest financing,” said Charley Daitch, CEO of Rowan Digital Infrastructure. “We’ve already achieved tremendous progress and are seeing heightened interest from hyperscale customers who rely on robust, scalable facilities to power their global operations. Our development pipeline is growing rapidly as we head into 2025, and we look forward to bringing these new projects to market to meet the evolving needs of our clients. This next phase of growth underlines our commitment to delivering best-in-class solutions—now and for years to come.”
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.
For more information, visit www.rowan.com
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.
