EdgeConneX syndicates $3B for Meta's Ohio data center campus
In brief
- EdgeConneX syndicates $3 billion for Prometheus, a 1-gigawatt data center campus in Ohio for Meta.
- Novel financing bundles data center construction and off-grid power assets into single debt package.
- Natixis, MUFG, and Societe Generale began marketing the debt in early April 2026.
- Bundled model could become template for scaling AI infrastructure financing across industry.
The bundled financing model
The novel financing structure bundles data center construction and off-grid power assets into a single debt package, signaling a new playbook for the AI infrastructure buildout. Traditionally, developers financed real estate and energy separately. EdgeConneX is merging them. By integrating off-grid power assets directly into the loan structure, the company is effectively telling lenders that the data center and its power source are a single, inseparable investment.
Banks including Natixis, MUFG, and Societe Generale began marketing the debt in early April 2026. The structure reflects a growing constraint in data center development: wholesale electricity prices have climbed steeply in key data center markets, and grid connections can take years to secure. By bundling power and real estate into one financing package, developers can reduce time-to-deployment and give lenders a clearer view of operating costs.
Why Meta needs this scale
Meta needs enormous compute capacity for training and running large language models, and a 1-gigawatt campus can deliver it. A gigawatt is roughly equivalent to the power consumption of a city of 750,000 people. The Prometheus campus represents the scale of infrastructure required to compete in the AI arms race.
EdgeConneX, backed by private equity firm EQT Infrastructure, operates over 90 data centers globally and has tripled its capacity since EQT acquired it in 2020. The company's experience at scale positions it to execute a project of this magnitude while managing both construction and power logistics.
A potential template
The $3 billion Prometheus financing could become a template for other developers. If lenders are comfortable underwriting bundled data center and power assets as a single risk, the model removes friction from the development cycle. More projects could move faster, and more capital could flow into AI infrastructure.
This financing structure doesn't solve the underlying constraint—grid capacity and electricity supply remain finite—but it does make the math clearer for investors and lenders evaluating the next wave of large-scale AI infrastructure buildout.
