Rowan Digital Infrastructure is in the market for a USD 3bn construction loan supporting a grid-connected 300 MW data center project in Texas, sources said.

Societe Generale is one of the lead banks on the deal, with pricing set for SOFR+ 225bps, indicating the project has a non-Oracle hyperscale offtaker, the sources added.

Rowan and SocGen did not respond to requests for comment.

The developer has been working on a 300 MW project in Temple, TX since at least 2022, and broke ground at the site earlier this year.

In a January news release, the company said that operations at Temple are scheduled to begin in 2027, with power secured through a partnership with Oncor.

Rowan is developing two additional projects in Temple known as “Project Stampede” and “Project Ranger,” according to NPM data and local news reports.

Rowan also secured approximately USD 550m in construction financing in February for the first phase of its Cinco data center, another 300 MW project in Medina County, Texas.

That financing was led by TD and Mizuho as co‑structuring agents, coordinating lead arrangers, and joint bookrunners, with Huntington National Bank, ICBC, and Lloyds Bank also participating.

NPM is tracking five Rowan projects in the US.

Rowan was founded with backing from Quinbrook Infrastructure. The University Pension Plan Ontario made an investment into Rowan in 2024. And Blackstone recently finalized a deal to acquire a 49% stake in Rowan at a USD 3.8b enterprise value, excluding debt.