Data Economy News

Vantage reaffirms green commitment with $300m loan

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Vantage Data Centers has closed on a US$300 million green loan in recognition of its sustainable design features for the 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 solutions and green financing options.

VA13 will be a 44MW data centre located on Vantage’s 42-acre, 146MW mega campus in “Data Center Alley”. The facility is currently under development and is scheduled to be operational by the end of the year.

This is the third data centre on the campus, which will total more than one million square feet across five facilities once development is complete.

“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 prioritize speed without sacrificing sustainability.

“Given its many benefits, we anticipate leveraging green financing for future developments as we continue expanding our footprint globally.”

The campus includes hyper-efficient cooling with outside air economisation, outdoor lights powered by solar and wind energy sources, solar-powered electric vehicle charging stations and drought-resistant landscaping.

Vantage says that this latest announcement is a crucial step in its long-term commitment to sustainability. In 2021, the company announced it would achieve net-zero carbon emissions globally by 2030.

Last month the firm announced a 20-year power purchase agreement with Solar Africa, one of South Africa’s major solar energy financing companies.

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