Vantage Data Centers has secured a loan to build out its data centers in Quebec, Canada. Canadian pension fund Caisse de depot et placement du Quebec (CDPQ), a global investment group, has announced a USD 75 million senior financing agreement with Vantage Data Centers to expand its Quebec City Data Center Campus (QC2).
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Construction and Capacity Expansion
This new investment will support the construction of the campus's third facility, adding 16 MW of IT capacity to meet the rising demand for cloud services in Quebec and Eastern Canada, the investment group said. The total USD 130 million credit facility was structured and underwritten by Societe Generale.
The Quebec City hyperscale data center, located in the National Capital region, is being constructed by Pomerleau. Once complete, the 925,000-square-foot campus will provide 86 MW of combined IT capacity, serving Vantage's global customers, the official release said.
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CDPQ's Perspective
"The rise of data-intensive technologies and the adoption of cloud services are transforming the North American digital infrastructure market. Vantage Data Centers is uniquely positioned to seize this opportunity with its extensive experience in developing and operating data centers, as well as its long-standing client relationships," said CDPQ. "This new investment in Vantage leverages CDPQ's global experience financing critical digital infrastructure to support the delivery of this important local project."
"CDPQ's investment will play a crucial role in our expansion in Quebec City and in fueling our capacity to deliver high-quality digital infrastructure in the region," said Vantage Data Centers. "We're excited to complete this facility in the spring of 2025 and to deepen our partnership with CDPQ to meet the growing demand for advanced cloud services in Eastern Canada."
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Previous Investments by CDPQ
Earlier this year, CDPQ invested in Vantage Data Centers' EMEA platform and participated in a USD 7.5 billion debt financing for AI hyperscaler CoreWeave.
"We are pleased to partner with CDPQ and to provide a tailored financing solution to support this expansion by Vantage Data Centers in Quebec," said Societe Generale.
