DataBank Secures $2 Billion Green Loan for Major Dallas Data Center Campus
April 22, 2026
DataBank, a leading US data center operator, has secured a landmark $2 billion construction loan to accelerate the development of its new campus in Red Oak, Dallas. This financing underscores the intense capital requirements and strategic importance of scaling data center infrastructure to meet surging demand, particularly from artificial intelligence and cloud services.
The company announced this week that the financing, its largest construction loan to date, will fund the first three facilities on the 292-acre campus. These initial data centers, designated DFW9, DFW10, and DFW11, have already been fully leased. Upon completion, they will collectively offer 600,000 square feet of technical space and 180 megawatts of critical IT capacity. The loan was issued under DataBank's Green Financing Framework, requiring the facilities to meet stringent sustainability targets for power efficiency, water conservation, and carbon emissions reduction.
Kevin Ooley, President and CFO of DataBank, stated that the financing, combined with existing power commitments, will accelerate the campus's construction and delivery timelines by approximately 18 months. "It ensures our customer will be able to bring critical capacity to market on time and further solidifies Dallas as a core metro for Internet and AI infrastructure," Ooley said.
The Red Oak campus, announced in September 2024, has a total planned capacity of 480 megawatts and can accommodate up to eight two-story facilities at full build-out. The first phase, located in Ellis County, will include four buildings and is supported by a dedicated 400MW substation from utility Oncor. Completion of this initial phase is targeted for the second quarter of 2026. This project is part of DataBank's aggressive national expansion strategy; the company, founded in 2005, now operates over 65 data centers across 25 metropolitan markets in the United States.
The $2 billion loan brings DataBank's total secured financing over the past 12 months to $4.7 billion, following a $1.6 billion credit facility expansion and a $1.1 billion securitization earlier in the period. This substantial capital raise highlights the scale of investment flowing into digital infrastructure and positions DataBank to compete for large-scale, power-intensive workloads that are reshaping the data center landscape.
Source: datacenterdynamics
