Data Center View - May 26, 2025 - Colovore secures $925 million

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NEWS ROUNDUP

FINANCING: Colovore secures $925 million. Colovore has secured a $925 million debt facility from Blackstone funds. The financing follows Colovore’s acquisition by King Street Capital Management in 2024 and will support new developments in Reno, Chicago, and Austin. President and Co-Founder Sean Holzknecht said the funding will enable Colovore to scale as AI workloads shift toward distributed, inference-heavy architectures. Brian Higgins, Founder and Managing Partner of King Street, praised Colovore’s decade-long expertise in liquid cooling and emphasized the firm's role in meeting demand for AI-optimized infrastructure.

DEVELOPMENT: SB Energy plans $3 billion data center campus in Texas. SB Energy Global is planning a $3 billion data center campus in Milam County, Texas, adjacent to its Orion Solar Belt project. The California-based renewable energy firm will use 1.3 million solar modules from First Solar's Perrysburg, Ohio plant to generate 875MW of power—comparable to a mid-sized natural gas plant. The clean energy produced will feed into the Texas grid and is expected to power Google’s data centers in Ellis County and nearby areas. The project reinforces the growing synergy between renewable energy and AI infrastructure in Texas.

DEVELOPMENT: Prometheus launches carbon-neutral data center in Wyoming. Prometheus Hyperscale has partnered with PureWest Energy and Frontier Carbon Solutions to deliver zero-carbon, flexible power for its planned 1.2GW hyperscale data center campus in Wyoming. PureWest, the state’s largest natural gas producer, will supply verified low-carbon natural gas, while Frontier will contribute carbon removal credits, enabling fully carbon-neutral backup, baseload, and balancing power with full emissions traceability. “This partnership represents an unprecedented opportunity to bridge the gap to a net-zero future using local resources,” said Trenton Thornock, Founder and CEO of Prometheus Hyperscale. The initiative will use over 500,000 tons of carbon removals annually and marks a new benchmark for sustainable AI infrastructure. Ty Harrison, President and CFO of PureWest, added that the project “affirms the critical role that verified low-carbon natural gas will play” in meeting the power demands of the AI era. The carbon offset component will be enabled through biogenic CO₂ capture by Frontier, sequestered at its Wyoming storage site, supporting both decarbonization and regional economic development.

ENERGY: Thunderhead and Harbert to deliver 1.5GW of onsite natural gas power for US data centers. Thunderhead Energy Solutions has partnered with Harbert Management Corporation (HMC) to develop up to 1.5GW of behind-the-meter natural gas generation for the U.S. data center market. The deal gives HMC ownership and operational control of the power assets—pending undisclosed milestones—while Thunderhead leads project development. The partnership aims to provide up to 100MW of dispatchable power to data center operators within 24 months, a significant improvement over the typical five-year grid interconnection timeline. “This partnership allows us to rapidly scale deployment of behind-the-meter solutions,” said Chuck Marvin, Thunderhead’s co-founder. HMC’s Claude Estes added that Thunderhead brings “a logical and scalable approach” to solving the power bottleneck in digital infrastructure.

EXPANSION: Perkins Coie launches data center advisory arm. Perkins Coie has launched a dedicated Data Center Hub to support clients navigating the complex legal, regulatory, and operational issues surrounding data center development and expansion.

The initiative will be led by five key attorneys:

• Jane Rueger, partner and firmwide lead of the Energy Infrastructure & Clean Technology group

• Andrew Grant, partner and chair of the Technology Transactions & Privacy practice

• Sumedha Ahuja, IP partner and co-chair of the AI & Machine Learning group

• Camarin Madigan, partner

• Michael Herrera, counsel

The hub will help clients tackle challenges around AI-driven growth, energy consumption, sustainability, advanced cooling, and regulatory scrutiny of foreign investment.

READ: American data center tax exemptions are “out of control.”

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515 Acres | 115kV and 230kV Transmission Lines Run <1 Mile From the Site | 24MW Available for Construction

2.06 Acres | 10,608 SF | Currently Vacant | Built in 1996

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