Wholesale data center operator EdgeCore Digital Infrastructure announced the completion of a USD 440 million debt financing transaction aimed at fueling the expansion of its Silicon Valley campus in Santa Clara, California. This follows the USD 1.9 Billion financing for the Mesa, Arizona data center campus in January 2024, as reported by TelecomTalk.
EdgeCore said both transactions were conducted in conjunction with its owner, Partners Group, a global private market firm, and will help bolster its efforts to meet the soaring demand for data center solutions in the Silicon Valley region.
Also Read: EdgeCore Expands Data Center Campus in Mesa, Arizona
Santa Clara campus
Since breaking ground on its Santa Clara campus in January 2023, EdgeCore said it has made considerable progress, with the completion of its first data center and campus substation. Upon full build-out, the LEED-designed campus will be capable of supporting 72 MW of critical load across 540,000 square feet of space, catering to the diverse requirements of hyperscale customers.
"Continuing the pace of rapid growth and development EdgeCore established in 2023, we leveraged the template set by our debt financing announced in January to quickly close the USD 440 million transaction being reported today," said Julie Brewer, EVP of Finance, EdgeCore Digital Infrastructure.
"This funding will be put to immediate use in our Silicon Valley market to meet the critical capacity needs of hyperscale customers searching for single tenant data centers built to accommodate high-density space and power requirements."
Also Read: EdgeCore Partners With SRP to Achieve Water-Neutral Status for Mesa Data Center
Sustainable Growth
EdgeCore has structured both of its 2024 financing transactions as Green Loans, following the latest Green Loan Principles, the company said.
Financing Details
According to EdgeCore, its USD 440 million debt financing is comprised of a limited-recourse senior secured term loan. EdgeCore was acquired by Partners Group in November 2022 and has since utilized the initial capital commitment throughout 2023 to expand and begin the development of data center campuses in Santa Clara, California (January 2023); Ashburn, Virginia (March 2023); Mesa, Arizona (April 2023); and Reno, Nevada (August 2023).
