Rowan Digital Infrastructure has secured over USD 1 billion to advance the development of its Maryland data centre campus. The company announced this week that it closed an additional USD 1.24 billion in construction financing to support the second phase of its flagship hyperscale facility at TPG’s Quantum Frederick site.
The site (Frederick, Maryland) was once home to the Alcoa Eastalco Works aluminium smelter, which was sold to Quantum Loophole and TPG in 2021 for redevelopment into a modern data centre campus.
“Rowan is grateful for our lenders’ continued support for phase two of our flagship campus. 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 2,500MW, 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,” said Kevin Mammel, Rowan’s chief financial officer.
