Vantage secures US$300mn green loan for Virginia data centre
Vantage Data Centers, a provider of hyperscale data centre campuses, has secured a US$300mn green loan for an upcoming data centre in Virginia.
The green loan, which was structured and arranged by Societe Generale, is in recognition of the sustainable design features of its VA13 data centre located in Northern Virginia.
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 a low Power Usage Effectiveness (PUE).
“Vantage is committed to reaching net zero carbon emissions by 2030, and this loan gets us even closer to actualising our goal. Vantage’s dedication to sustainable operations made us an ideal candidate for this loan, and it’s just one more step in our journey to positively impact climate change,” explained Amanda Sutton, Senior Director of sustainability, Vantage Data Centers.
Bringing together speed and sustainability
VA13 will be a 44MW data centre located on Vantage’s 42-acre, 146MW campus in Ashburn, Loudoun County. The 365,000-square-foot facility is currently under development and scheduled to be operational later this year. This will be the third data centre on the campus, which will total more than 1 million square feet across five facilities once fully developed.
The campus features many 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.
“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. 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,” said Sharif Metwalli, Chief Financial Officer at Vantage Data Centers.
Creating greener data centres
This is Vantage’s second successful execution of a green loan. Previously the company obtained a US$68mn green loan as part of a multi-phase financing from Societe Generale to fund the development of a third 32MW facility on its growing Quebec City campus.
In 2021, Vantage announced it will 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 South Africa’s solar energy financing.
“As the capital markets shift to green financing, we are thrilled to partner with Vantage to support their ongoing data centre developments. 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’re very excited to be part of Vantage’s next chapter of growth,” said Valtin Gallani, Director at Societe Generale Corporate and Investment Banking.
