Finance, Solar, Sourcing Renewables, Wind - July 13, 2022
Vantage Data Centers Receives Green Loan
Vantage Data Centers, a provider of hyperscale data center campuses, announced that it closed on a $300 million green loan for the sustainable design features of its VA13 data center located in northern Virginia.
VA13 will be a 44MW data center located on Vantage’s 42-acre, 146MW mega campus in “Data Center Alley.” The 365,000-square-foot facility is currently under development and scheduled to be operational in the fall of 2022.
This will be the third data center on the campus, which will total more than 1 million square feet across five facilities once it is fully developed. The campus features many sustainable attributes, including hyper-efficient cooling with outside air economization using minimal water, outdoor lights powered by solar and wind energy sources, solar-powered EV charging stations, and drought-resistant landscaping.
The loan was structured and arranged by Societe Generale.
In order to qualify for a green loan, recipients must generally meet specific criteria for their sustainability measures such as water conservation and carbon emissions reduction, as well as achieving a low Power Usage Effectiveness (PUE).
“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 in a statement. “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.”
This is Vantage’s second successful execution of a de novo green loan. Previously, the company obtained a $68 million green loan as part of multi-phase financing from Societe Generale to fund the development of a third 32MW facility on its Quebec City campus.