Vantage Data Centres (Vantage), a global provider of hyperscale data centre campuses, has successfully closed on a 300 million USD green loan which was structured and arranged by Societe Generale, an European investment bank offering sustainable and positive impact solutions.
Societe Generale arranged this loan for Vantage, in recognition of the sustainable design of Vantage’s planned VA13 data centre in Northern Virginia.
Located on Vantage’s 42-acre, 146 MW mega campus, VA13 is currently under development and will have a total capacity of 44 MW. Once complete, VA13 will be the third data centre on Vantage’s data centre campus, which has many sustainable attributes, from hyper-efficient cooling with outside air economization using minimal water, outdoor lights powered by solar and wind energy sources, solar-powered electric vehicle charging stations and drought-resistant landscaping.
Dedication to Sustainable Operations
This deal marks the second time Vantage has executed a de novo green loan by meeting specific criteria for water conservation, carbon emissions reduction, and maintaining a low Power Usage Effectiveness (PUE). Vantage had previously obtained a 68 million USD green loan from Societe Generale to fund the development of a third 32 MW facility in Quebec, which was completed in June 2022.
Sharif Metawalli, Chief Financial Officer at Vantage, affirmed that the second green loan would not only “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 prioritize speed without sacrificing sustainability. Given its many benefits, we anticipate leveraging green financing for future developments as we continue expanding our footprint globally.”
Senior Director of Sustainability at Vantage Amanda Sutton said that “Vantage is committed to reaching net zero carbon emissions by 2030, and this loan gets us even closer to actualizing 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.”
Valtin Gallani, Director at Societe Generale Corporate and Investment Banking also expressed his support for Vantage’s sustainable data centre project. “As the capital markets shift to green financing, we are thrilled to partner with Vantage to support their ongoing data center developments. 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, and we’re very excited to be part of Vantage’s next chapter of growth.”
“Sustainable Build and Design” is a sub-category under the awards category “Outstanding Data Center Projects” for this year’s for this year’s W.Media Asia-Pacific Cloud & Datacenter Awards. Thinking of nominating or sponsoring? Visit our Awards Page for more information. Nominations are open until 31st July.
