Rowan Digital lands $3B debt for first Temple data center campus
What's the deal? Rowan Digital has secured $3 billion in debt financing to build a 300-megawatt data center campus in Temple, Texas — the first of three planned campuses in the town north of Austin. The 707-acre site, located northeast of Bob White Road and Lorraine Avenue, will include a 1 million-square-foot building. Construction has already begun with general contractor HITT ContractingDealroom has a profile for this one. Try Dealroom → Inc., and completion is expected by mid-to-late 2026.
Across all three planned Temple projects, Rowan's total investment could reach $2.1 billion.
Why now? Demand for data center capacity continues to surge as AI workloads, cloud computing, and enterprise digitalisation strain existing infrastructure. Texas has become a magnet for large-scale data center development thanks to its relatively cheap land, business-friendly regulations, and growing power grid — though that grid is also under increasing pressure.
What could go wrong? A 300-megawatt facility draws enormous amounts of power, and Texas's grid operator ERCOT has faced reliability questions during extreme weather events. Securing consistent energy supply for three campuses will be a major challenge.
Rowan says it offers net-zero power solutions with a focus on renewable energy and plans to use closed-loop water systems across all its projects — systems that are filled once and recycled throughout a facility's lifecycle. Whether those sustainability commitments hold up at scale remains to be seen.
The signal: Rowan Digital InfrastructureDealroom has a profile for this one. Try Dealroom →, classified as a late-growth-stage company by Dealroom, is deploying capital at a scale that reflects how data centre development has become a capital-intensive arms race. A single $3 billion debt facility for one campus — with two more planned in the same town — suggests lenders see hyperscale infrastructure in Texas as a relatively safe long-term bet, even as grid reliability and power procurement remain open questions.
Read more: Connect CRE
