Meta Platforms and BlackRock Inc. have created a joint venture to develop and operate a large-scale data center campus in El Paso. The partners expect total development costs for the planned 1-gigawatt campus to be approximately $14 billion, positioning the project as a major capital commitment to digital infrastructure in the market.
Under the joint venture structure, funds managed by BlackRock will hold an 80 percent interest in the venture, while Meta will retain the remaining 20 percent stake. Meta is contributing land and construction-in-progress assets to the venture, with those contributions valued at approximately $2.3 billion. BlackRock will fund its position through a cash contribution of about $4.9 billion.
Meta will take on multiple roles at the new campus. In addition to its equity interest, the company will oversee construction management and provide administrative and property management services for the development. Once the project is completed, Meta is slated to be the campus’s initial sole occupant.
Construction activity at the El Paso site is already underway. According to the companies, roughly 2,300 workers are currently on the job. They project that the construction workforce will expand to about 4,000 workers at peak activity as the campus build-out progresses.
Upon full stabilization of operations, the development is expected to support approximately 300 permanent positions at the campus. These roles are anticipated to be tied to the ongoing operation and management of the data center facilities once they are fully brought online.
The formation of the joint venture aligns Meta’s operational and management capabilities with BlackRock-managed funds’ majority equity position. While detailed project phasing, facility specifications, and delivery timelines were not disclosed, the announced capital structure and current construction activity signal a significant, long-term digital infrastructure investment in El Paso centered on a 1-gigawatt data center campus with Meta as the initial user.
