EdgeCore Secures $1.9 billion Green Loan for Sustainable Data Center Expansion
EdgeCore Digital Infrastructure secures $1.9 billion debt financing to develop its Mesa, Arizona data center with sustainable practices. The Green Loan marks EdgeCore's commitment to sustainability. EdgeCore Digital Infrastructure, a leading wholesale data center developer, has secured a $1.9 billion debt financing transaction for the development of its data center campus in Mesa, Arizona. The financing comes in the form of EdgeCore's first-ever Green Loan, aligning with sustainable construction and business practices. The Mesa campus is designed to support a minimum of 450 MW of critical load across an area of more than 3 million square feet at full build-out and features a LEED design, water-neutral construction, and an air-cooled design paired with a closed-loop chilled water system. The transaction was led by a consortium with MUFG as the administrative agent and Davis Polk Watson and Milbank as legal counsel.
Published : 4 months ago by Shivani Chauhan in World
EdgeCore Digital Infrastructure, a leading wholesale data center developer, has announced the completion of a $1.9 billion debt financing transaction. This substantial funding will be directed towards the scalable development of the company’s data center campus located in Mesa, Arizona. Noteworthy is the fact that this financing comes in the form of EdgeCore’s first-ever Green Loan, a commitment that is in full alignment with sustainable construction and business practices.
In line with the latest Green Loan Principles, this financing transaction marks the inauguration of the company’s Green Loan initiative. The Green Loan Principles, as published by the Loan Market Association, Asia Pacific Loan Market Association, and the Loan Syndications & Trading Association, serve as the guideline for this transaction. Through this Green Loan, EdgeCore underscores its dedication to sustainable business practices and paves the way for future environmentally conscious initiatives.
The Mesa Campus: A Testament to Scalability and Sustainability
The Mesa campus, which is designed to cater to the requirements of hyperscalers, is projected to support a minimum of 450 MW of critical load across an expansive area of more than 3 million square feet at full build-out. Presently, the campus houses one operational data center and has two more under construction, all of which collectively account for 206 MW of critical load capacity. Unique features of the campus include a LEED design, water-neutral construction, and an air-cooled design paired with a closed-loop chilled water system. These design elements result in nearly zero Water Usage Effectiveness (WUE) and a Power Usage Effectiveness (PUE) that is significantly lower than the industry average.
The $1.9 billion financing package includes a senior secured term loan, a revolving senior secured letter of credit facility, and an accordion feature for future development. The transaction was led by a consortium, with MUFG serving as the administrative agent and Davis Polk Watson and Milbank as legal counsel. EdgeCore Digital Infrastructure, owned by Partners Group since November 2022, plans to expand into new regions in 2024.