EdgeConneX receives $150 million in sustainability-linked financing to expand in Latin America

Categories Edge Computing News  |  Funding  |  Real Estate
EdgeConneX receives $150 million in sustainability-linked financing to expand in Latin America

EdgeConneX, a data center solutions provider, has announced that it has secured $150 million in sustainability-linked financing. This funding will refinance current debt and support the company’s growth in Latin America while promoting its commitment to environmental stewardship.

The funding comes as EdgeConneX continues its global expansion, with sustainability a key focus of its design and development strategy. For example, the company secured several sustainability-linked financings earlier this year totaling $1.7 billion.

The financing included EdgeConneX’s first asset-backed securitization and multi-currency term loan. The company intended to use the capital to develop and construct EdgeConneX’s data center solutions.

As part of the financing terms, the interest rate depended on EdgeConneX reaching specific predetermined sustainability targets. These targets, in turn, encouraged the development of energy-efficient data centers, which corresponds with the company’s sustainability strategy. The company plans to be carbon, water, and waste neutral by 2030 and use 100% renewable energy for its data center platform.

Commenting on the news, Joe Harar, CFO of EdgeConneX, said “This is a landmark transaction in the digital infrastructure space in Latin America, as combined green loan principles and sustainability-linked loan principles are considered to be the first combination sustainability data center financing in the market. This funding will allow us to continue our regional expansion in Latin America and to do so in a sustainability-minded way.”

EdgeConneX also recently expanded into the Philippines, where it teamed with Aboitiz InfraCapital (AIC), a subsidiary of the Aboitiz Group, one of the country’s major conglomerates. The collaboration will build and run data centers in the Philippines to address the growing demand for data in the region.

Meanwhile, earlier this year, EdgeConneX acquired the Indonesian-based GTN Data Center. In 2021, the firm invested in Chayora, a China-based data center developer and operator. EdgeConneX also partnered with Adani Enterprises in 2021 to create data centers in India.

Article Topics

 |   |   |   | 

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Featured Edge Computing Company

Latest News