Global hyperscale data centre campus provider, Vantage Data Centers, has announced that it has closed on a $300 million green loan in recognition of the sustainable design features of its VA13 data centre located in Northern Virginia.
The loan was structured and arranged by Societe Generale, one of Europe’s leading investment banks offering sustainable and positive impact solutions, including green financing options.
VA13 will be a 44 megawatt (MW) data centre located on Vantage’s 42-acre, 146 MW mega campus in ‘Data Centre Alley’. The 365,000 square foot facility is currently under development and scheduled to be operational in the autumn of this year. This will be the third data centre on the campus, which will total more than one million square feet across five facilities once fully developed. The campus features many unique sustainable attributes, including hyper-efficient cooling with outside air economisation using minimal water, outdoor lights powered by solar and wind energy sources, solar-powered electric vehicle charging stations and drought-resistant landscaping.
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 centres, 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 prioritise speed without sacrificing sustainability. Given its many benefits, we anticipate leveraging green financing for future developments as we continue expanding our footprint globally.”
“Vantage is committed to reaching net zero carbon emissions by 2030, and this loan gets us even closer to actualising our goal,” explained Amanda Sutton, senior director of sustainability, Vantage Data Centers. “Vantage’s dedication to sustainable operations made us an ideal candidate for this loan, and it is just one more step in our journey to positively impact climate change.”
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 a multi-phase financing from Societe Generale to fund the development of a third 32 MW facility on its growing Quebec City campus. This facility opened its doors to customers last month.
“As the capital markets shift to green financing, we are thrilled to partner with Vantage to support their ongoing data centre developments,” said Valtin Gallani, director at Societe Generale Corporate and Investment Banking. “With this financing, Vantage is likely the first data centre operator in North America to issue a Project Specific Green Loan that is based on the Use of Proceeds, and we are very excited to be part of Vantage’s next chapter of growth.”