FOLLOWING A $300 MILLION LOAN
Hyperscale campus provider, Vantage Data Centers, has just announced that it plans to develop a new data center in its “Data Center Alley” campus which is located in Northern Virginia.
This announcement comes with the closure of a $300 million USD green loan that was structured and arranged by Societe Generale, a European investment bank. This is Vantage’s second successful execution of a de novo green loan, following a $68 million USD green loan as part of a multi-phase financing from Societe Generale that was used to fund the development of a third 32MW facility on Vantage Quebec City campus.
“Not only does this green loan expedite our pursuit of sustainable solutions for data centers, but it adds to the diversity of Vantage’s funding vehicles, enabling us to move quickly alongside customer demand,” said Sharif Metwalli, chief financial officer at Vantage Data Centers.
“Partnering with hyperscalers often entails rapid development which can bring a substantial impact on the environment, but with this loan, we have the flexibility to prioritize speed without sacrificing sustainability. Given its many benefits, we anticipate leveraging green financing for future developments as we continue expanding our footprint globally.”
Codenamed VA13, the new Northern Virginia data center will be a 44MW facility sited on Vantage’s 42-acre, 146MW mega campus in “Data Center Alley.” The new 365,000 square foot facility will be the third data center on the campus, which will total more than 1 million square feet across five data center facilities once fully developed.
“As the capital markets shift to green financing, we are thrilled to partner with Vantage to support their ongoing data center developments. With this financing, Vantage is likely the first data center operator in North America to issue a Project Specific Green Loan that is based on the Use of Proceeds, and we’re very excited to be part of Vantage’s next chapter of growth,” said Valtin Gallani, director at Societe Generale Corporate and Investment Banking.
As announced, VA13 is currently under development and scheduled to be operational in the fall of this year.
In line with its green footprint efforts, Vantage recently entered into a new 87MWp power purchase agreement (PPA) with SolarAfrica, to power its Johannesburg (JNB1) data center campus in South Africa.