Inside Rowan's US$3bn Project Temple Debt Raise
Rowan Digital Infrastructure recently announced it has secured nearly US$3bn in debt financing to support the construction of its 300MW flagship datacentre campus in Temple, Texas.
The financing, completed under Rowan's Green Finance Framework, represents the largest debt raise in the company's history, the developer said in a press release.
Rowan announced the start of construction for the Project Temple datacentre in central Texas in January 2026.
TMT Finance first reported on the process in February that Rowan was targeting around US$3bn of debt for the process. Banks had not yet been selected.
This was followed by updates in March, April and May, providing subscribers with exclusive, in-depth coverage that tracked the transaction from its early structuring phase through syndication and closing.
General syndication for the deal launched in mid-April, sources said, corroborating an early April TMT Finance report.
Details reported by TMT Finance include:
- Rowan's plans to raise approximately US$3bn in debt financing for Project Temple.
- Tenancy and lease arrangements underpinning the financing.
- The full structuring and non-structuring CLA list on the process.
- Financing terms, including pricing and the targeted loan-to-cost ratio.
- Lender ticket sizes and the syndication structure.
- Expected syndication milestones and closing timelines.
According to Rowan’s website, the company has a 1.5GW portfolio across four locations: Columbia River Gorge, Oregon; Frederick, Maryland, and Medina County and Temple, Texas.
Founded in 2020 by Quinbrook and Birch Infrastructure, Rowan provides turnkey solutions for US-based hyperscale datacentre users and digital businesses needing datacentres engineered for large-scale workloads, infrastructure scalability, and streamlined network connectivity.
In 2023, Quinbrook took total ownership of Rowan, it said in a press release at the time, with University Pension Plan Ontario completing a co-investment in Rowan in August 2024. According to Rowan’s website, the company has a 1.5GW portfolio across four locations: Columbia River Gorge, Oregon; Frederick, Maryland, and Medina County and Temple, Texas.
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