EdgeCore Secures USD 1.9 Billion Financing for Mesa Data Center Campus

EdgeCore Digital Infrastructure completes a USD 1.9 billion debt financing to support the scalable development of its Mesa, Arizona data center campus, emphasising sustainability and green practices.

Highlights

  • Mesa campus designed for LEED certification and water neutrality.
  • 450 MW critical load capacity at full build-out.
  • Transaction represents the company's first Green Loan.

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EdgeCore Secures USD 1.9 Billion Financing for Mesa Data Center Campus
EdgeCore Digital Infrastructure, a wholesale data center developer, today announced the completion of a USD 1.9 billion debt financing to fund scalable development on its data center campus in Mesa, Arizona. The company, which is owned and operated by Partners Group, a global private market firm, plans to replicate this financing model across its portfolio for other planned developments.

Also Read: EdgeCore Expands Data Center Campus in Mesa, Arizona




Sustainable Campus Development

The Mesa campus, designed to achieve Leadership in Energy and Environmental Design (LEED) certification and water neutrality, is set to support a minimum of 450 MW of critical load at full build-out. Currently, the campus features one operational data center, with two additional data centers under construction, totalling 206 MW of critical load capacity. EdgeCore said the facility will be engineered to meet current and future customer requirements across 3.1+ million square feet of space.

"The development of scalable data center campuses designed to support the density requirements of hyperscalers is EdgeCore's sole focus, and one that we address with sustainable construction, operations and business practices in mind," said Julie Brewer, SVP of Finance, EdgeCore Digital Infrastructure. "To this end, our Phoenix data center campus in Mesa, AZ is being developed using debt financing from this Green Loan."

Also Read: EdgeCore Partners With SRP to Achieve Water-Neutral Status for Mesa Data Center

Green Financing for Growth

EdgeCore's Mesa campus employs an air-cooled design with an ultra-efficient closed-loop chilled water system for temperature regulation. This design has resulted in water usage effectiveness (WUE) rating of nearly zero and power usage effectiveness (PUE) ratings far below the industry average of around 1.50, contributing to the project's recognition as a Green Loan.

"The construction financing for the Mesa campus is an important milestone for EdgeCore," said Fentress Boyse, Member of Management, Private Infrastructure Americas, Partners Group. "This financing also represents the largest Green Loan by a Partners Group portfolio company to date."

Also Read: EdgeCore Begins Construction on Data Center Campus in Reno, Nevada

Partners Group's Strategic Investment

Partners Group, which acquired EdgeCore in November 2022, committed to invest up to USD 1.2 billion for the acquisition and build-out of existing and future data center sites.

According to the official release, EdgeCore has utilised Partners Group's capital commitment to expand and initiate the development of data center campuses in various locations, including Santa Clara, California (January 2023); Ashburn, Virginia (March); Mesa, Arizona (April); and Reno, Nevada (August 2023).

Also Read: EdgeCore Expands Its Presence in Northern Virginia

The USD 1.9 billion debt financing comprises a limited-recourse senior secured term loan, a revolving senior secured letter of credit facility, and an accordion feature to fund future development, said EdgeCore.

EdgeCore has data center campuses in four North American markets with plans to expand into new regions in 2024.

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