Apr 21, 2026 | Posted by Abdul-Rahman Oladimeji
US data center firm EdgeCore has secured new financing to support its build-out in Virginia. The company this week announced the completion of two financial transactions totaling $1.5 billion to fund the construction of two single-tenant hyperscale data centers in Northern Virginia, AS01 and AS02.The debt financing consists of two limited-recourse senior secured term loans, arranged by a consortium of coordinating lead arrangers including Apterra Infrastructure Capital, Global Infrastructure Partners, and ING Capital.
“Today’s financial announcement is especially exciting for EdgeCore as it is directly related to our accelerated growth plans throughout the Commonwealth of Virginia in support of the AI revolution,” said Lee Kestler, CEO of EdgeCore Digital Infrastructure.
“EdgeCore’s community investment and controlled real estate development roadmap expands the economic benefits of digital infrastructure to Culpeper and Louisa County, Virginia, providing our hyperscale customers with access to gigascale capacity, reliable power availability, and inter-dependent compute within a two-hour drive of Ashburn.”
Financing for the AS01 loan was structured as a green loan, with ING Capital LLC acting as the sole green loan structuring agent. The company first announced plans for the campus in 2018. At full build-out, EdgeCore’s AS01 and AS02 data centers in Sterling, Loudoun County, will deliver a combined 114MW of critical IT load across 685,000 sq ft (63,640 sqm). After breaking ground in February 2025, EdgeCore topped out AS01 in September. The campus is located at 45831 Maries Road and 1501 Moran Road in Sterling, covering 608,000 sq ft (56,485 sqm). AS01 is scheduled to go live in November 2026, while AS02 is expected to follow in July 2027. Power for both facilities will be supplied by Dominion Energy. Launched in 2018, EdgeCore was acquired by Partners Group in 2022, which committed up to $1.2 billion to fund the acquisition and development of existing and future data center sites. The company has since expanded rapidly. EdgeCore currently operates facilities in Silicon Valley and Greater Phoenix, while its Reno, Nevada site is scheduled for delivery in 2026.
