Meta is poised to secure a $30 billion financing package with investment firm Blue Owl Capital for its planned data center campus in Louisiana.

The deal, first reported by Bloomberg, will see Meta own just 20 percent of the data center, which is set to be built in Louisiana’s Richland Parish and has been dubbed Hyperion.

Financing for the data center will come from a special purpose vehicle (SPV) set up by Morgan Stanley specifically for the project, in which asset manager Blue Owl, Meta, and another investment fund, Pimco, will be partners. It will comprise $2.5bn in equity and $27bn debt.

The SPV structure means Meta is not borrowing the funds itself, and therefore does not have to show large debts on its balance sheet.

Meta, Morgan Stanley, Pimco and Blue Owl declined to comment when approached by Bloomberg.

Set on the 2,250 acres of former farmland, the Hyperion campus will total more than four million sq ft (371,610 sqm) and offer up to 2GW of capacity. Renderings suggest up to nine buildings are planned. Meta expects construction to be complete by 2030.

Earlier this week, Facebook parent company Meta broke ground on a 1GW data center campus in El Paso, Texas.