BlackRock-backed Global Infrastructure Partners (GIP) and construction giant ACS Group have officially unveiled Coravel, a new data center development platform designed to serve hyperscale cloud and technology companies across multiple global markets. The launch also comes with an early commercial milestone, as Coravel secured its first hyperscaler customer agreement for a major campus in Texas. The move signals a broader strategy to combine infrastructure capital, engineering expertise, and large-scale delivery under a single operating platform.

Coravel Debuts with 1.7GW Global Development Portfolio

Coravel enters the market with an announced development portfolio totaling 1.7GW, representing approximately 1.2GW of IT load across the United States, Europe, and Australia. According to the company, around 150MW of capacity is already under construction, providing an early execution pipeline as demand for AI infrastructure continues to rise. Rather than operating as a traditional developer, Coravel intends to integrate project origination, power planning, design, construction, financing, and long-term operations through one organization. The platform is structured to help hyperscale customers reduce execution complexity while securing faster access to large-scale capacity. This integrated model reflects a growing trend among infrastructure investors that are moving beyond financing alone to offer end-to-end delivery capabilities. As AI deployments continue to increase infrastructure requirements, developers with vertically integrated execution models are gaining greater strategic importance.

Texas Campus Secures First Hyperscaler Customer

Coravel also announced its first hyperscaler customer agreement for its Dallas-Fort Worth campus in Texas. The agreement covers approximately 140MW of critical IT load, alongside an additional 100MW of future expansion capacity that can support long-term customer growth. Although the companies confirmed the commercial agreement, they did not disclose the identity of the hyperscale customer or provide delivery timelines for the project. ACS subsidiary Turner Construction will oversee construction of the Texas campus. Turner has extensive experience delivering large-scale digital infrastructure projects across North America, including developments for some of the industry’s largest cloud operators. Consequently, the appointment aligns with Coravel’s strategy of combining investment capital with established construction expertise.

Howard Boville Named Chief Executive Officer

Industry veteran Howard Boville now leads Coravel as its Chief Executive Officer. Before taking the role, he served as president of DXC Technology and held senior leadership positions at IBM, Bank of America, BT, and Comcast, bringing decades of enterprise technology and infrastructure experience to the new venture. Speaking about the launch, Boville said, “We created Coravel to enable hyperscalers and leading technology companies to deliver digital infrastructure with greater speed, certainty and accountability.”

He added, “By bringing together power strategy, site origination, design, construction, capital, and operations through one accountable partner, we simplify what’s become one of the world’s most complex infrastructure challenges.” Coravel’s decision to appoint Boville underscores its ambition to evolve beyond a traditional property developer and focus on delivering large-scale infrastructure for AI and cloud computing customers.

Joint Venture Builds on €2 Billion Partnership

Global Infrastructure Partners and ACS Group support Coravel through a €2 billion (US$2.33 billion) 50:50 joint venture they established in 2025 to develop and operate data centers worldwide. ACS contributed its existing development pipeline to launch the partnership, creating the foundation for the new operating company. Commenting on the launch, Juan Santamaría, Chief Executive Officer of ACS Group, said, “The launch of Coravel represents an important milestone in ACS Group’s strategy to build a leading global digital infrastructure platform. By combining our proven development, engineering, and construction expertise with GIP’s long-term investment strength, we’ve created a business uniquely positioned to help customers meet one of the world’s fastest-growing infrastructure needs.” Coravel marks the next phase of that partnership, turning a shared development pipeline into a dedicated hyperscale infrastructure business.

ACS Expands Beyond Construction Into Infrastructure Ownership

Earlier disclosures surrounding the joint venture indicated active developments in Aragon, Spain, and Fort Worth, Texas, while previous company presentations outlined a potential pipeline totaling approximately 1.1GW across Spain, Australia, the United States, and Chile. Although Coravel has now announced a larger 1.7GW development portfolio, the company has not yet released a detailed regional breakdown for every project within its global pipeline. Coravel also expands BlackRock’s growing presence in digital infrastructure following its acquisition of Global Infrastructure Partners in 2024. Founded in 2006, GIP manages more than US$100 billion in client assets spanning infrastructure equity and debt investments across sectors including energy, transportation, water, waste management, and digital infrastructure. The launch of Coravel further strengthens BlackRock’s strategy of building long-term exposure to AI infrastructure through ownership, development, financing, and platform investments across global markets