- Vantage Data Centers secured $300 million in green loans with Societe Generale. The green loan is planned to b used for the sustainable design features for its VA13 data center.
- VA13 will be a 44MW data center located on Vantage’s 42-acre, 146MW mega campus in Data Center Alley. The facility is currently under construction and scheduled to be in operation later this year.
- Previously Vantage Data Centers secured $68 million in green loans as part of multi-phase financing to fund the development of a third 32MW facility on its growing Quebec City campus.
Vantage Data Centers announced that it had secured $300 million in green loans with Societe Generale, one of Europe’s leading investment banks. The green loan is planned to be used for the sustainable design features for its VA13 data center located in Northern Virginia. This is the second loan the company receives as recognition in support of its sustainability goals.
Green financing for data centers increases
VA13 will be a 44MW data center located on Vantage’s 42-acre, 146MW mega campus in Data Center Alley. The facility is currently under construction and scheduled to be in operation later this year. This is going to be the third data center on the campus, which will total more than 1 million square feet across five facilities once fully developed. VA13 is 365,000 square feet alone.
The campus will have many distinctive, sustainable features. Such as hyper-efficient cooling with outside air economization, low water usage, outdoor lights powered by solar and wind energy sources, solar-powered electric vehicle charging stations, and drought-resistant landscaping.
Sharif Metwalli, Chief Financial Officer at Vantage Data Centers said;
« 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. »
Previously Vantage Data Centers secured $68 million in green loans as part of multi-phase financing to fund the development of a third 32MW facility on its growing Quebec City campus. This loan was also given by Societe Generale.
Gaining massive popularity
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 low power usage. Data centers use a large amount of water and energy. And they are often targeted by sustainability advocates.
Therefore green financing is gaining massive popularity in the data center sector. According to the company statement, with this financing, Vantage is likely the first data center operator in North America to issue a Project Specific Green Loan that is based on the Use of Proceeds.