PANews reported on November 21 that according to Bloomberg, Blackstone has invested more than $500 million in Lancium to support its construction of more than 5 GW of data centers in West Texas. Lancium plans to develop five facilities in areas rich in wind and solar resources to meet the rapidly growing energy needs of artificial intelligence applications.
This investment will help Lancium meet the project's funding needs and is expected to be online by 2028. Lancium is also considering combining zero-carbon resources such as solar energy and battery storage to promote the use of clean energy. The first data center campus is located in Abilene and is expected to be put into use next year. The project is led by a $3.4 billion joint venture with Blue Owl Capital, Crusoe Energy Systems and Primary Digital Infrastructure.
Lancium previously served mainly cryptocurrency miners, but with the surge in demand for AI, its business focus has shifted to the combination of data centers and clean energy. Goldman Sachs provided financial advice for the transaction.
