Blackstone (BX) and Related Digital said Friday funding for a $16 billion data center facility for Oracle (ORCL) in Saline Township, Michigan, was finalized.

The financial package incorporates equity from both primary partners alongside fixed-rate, long-term debt backed by investment vehicles under PIMCO management, the companies said.

DTE Energy (DTE) will provide the required electricity using current grid capacity supplemented by a new battery storage installation funded completely by Oracle, they said.

The three-building technology campus will deliver over one gigawatt of capacity and use a closed-loop temperature control design to allow for AI computing expansion, the companies added.