Aligned has announced that $1.35 billion in securitised notes issued under a sustainability framework, the first such funding in the data centre industry, as well as $375 million in a new sustainability-linked loan (SLL).
The funds will accelerate the company’s growth, allowing the developer to acquire land in key markets for new construction, as well as expanding its existing data centre campuses.
The huge deal also illustrates Wall Street’s interest in the intersection of digital infrastructure and sustainability, which can create financial products to help address environmental, social and governance (ESG) criteria in selecting targets for lending and funding. The company worked with a constellation of leading financial firms to line up the sustainable funding package.
For Aligned, sustainable finance is one more way it can match the priorities of its largest customers, including hyperscale operators that have set ambitious targets for reducing or eliminating their climate impact.
“We believe that sustainability isn’t a passing trend but that it is a competitive advantage to modern data centre operation and a key pillar of our customer’s success,” Andrew Schaap, CEO of Aligned, said. “We are very fortunate to have leading financial institutions in our corner whose business ethos complements our vision of environmentally responsible data centre infrastructure, and transparency and accountability in targeting our long-term sustainability goals.”