Flexential has announced the completion of a $2.1 billion securitization financing offer, which, according to the company, is the largest single asset-backed securities (ABS) issuance. On top of that, it is also the largest-ever green data center ABS financing. With this money, it will work towards entering new markets and developing new, green data centers.
As part of the offering, these new green data centers will have to prove that it has a power usage effectiveness (PUE) of 1.4 or below. The framework outlines that cooling must be achieved without water usage.
Commenting on the company's sustainability strategy, Garth Williams, Flexential CFO, said: "Our sustainability strategy focuses on where we can make the most impact by ensuring the entire lifecycle of Flexential's facilities are designed, built, and maintained with sustainability in mind."
He added that this would be achieved through energy and water-efficient cooling, cleaner power systems, and utilizing renewable energy options: "The level of detail contained within our new Green Finance Framework will ensure discipline in this strategy and our sustainability performance. We view these commitments as essential to maintaining our long-term competitive advantage in the marketplace."
