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Vantage Data Centers Secures $300M Green Loan for VA13 Facility in Northern Virginia

By on July 12, 2022 0

DENVER–(BUSINESS WIRE)–Vantage Data Centers, a leading global provider of utility-scale data center campuses, today announced that it has completed a $300 million green loan in recognition of the sustainable design features of its data center VA13 data 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 MW data center located on Vantage’s 42-acre, 146 MW mega campus in “Data Center Alley”. The 365,000 square foot facility is currently under development and is expected to be operational in the fall of this year. This will be the third data center on campus, which will total more than one million square feet across five facilities when fully developed. The campus features many unique sustainable attributes, including hyper-efficient cooling with outdoor air savings using minimal water, exterior lights powered by solar and wind energy sources, electric vehicle charging stations solar powered and drought tolerant landscaping.

In order to qualify for a green loan, recipients generally must meet specific criteria for their sustainability measures such as water conservation and reduced carbon emissions, as well as low energy efficiency (PUE).

“This green loan not only accelerates our search for sustainable data center solutions, it adds to the diversity of Vantage’s financing vehicles, allowing us to respond quickly to customer demand,” said Sharif Metwalli, Chief Financial Officer. of Vantage Data Centers. “Partnering with hyperscalers often involves rapid development that can have 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 plan to leverage green financing for future developments as we continue to expand our footprint globally.

“Vantage is committed to achieving net zero carbon emissions by 2030, and this loan brings us even closer to achieving our goal,” said Amanda Sutton, senior director of sustainability, Vantage Data Centers. “Vantage’s dedication to sustainable operations made us an ideal candidate for this loan, and this 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 secured a US$68 million green loan in a multi-phase financing from Societe Generale to finance the development of a third 32 MW facility at its growing Quebec City campus. . This facility opened to customers last month.

“As capital markets transition to green financing, we are delighted to partner with Vantage to support their ongoing data center developments,” said Valtin Gallani, Director at Societe Generale Corporate and Investment Banking. “With this funding, Vantage is likely the first data center operator in North America to issue a project-specific green loan based on product usage, and we are very excited to be part of the next chapter of growth for advantage.”

Today’s announcement is another crucial step in Vantage’s long-term commitment to sustainability. In 2021, Vantage announced that it would achieve net zero carbon emissions globally by 2030. Additionally, last month the company announced a 20-year power purchase agreement (PPA) with SolarAfrica , a pioneer in solar energy financing in South Africa. These two actions, together with today’s announcement, mark an important milestone in the company’s long-term commitment to increase efficiency and reduce environmental impacts at its data center campuses in large scale all over the world.

About Vantage Data Centers

Vantage data centers power, cool, protect and connect technology from the world’s best-known hyperscalers, cloud providers and large enterprises. Expanding and operating on five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in environments flexible that can evolve as quickly as the market demands..

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