May 20, 2022 | Posted by MadalineDunn
Aligned Data Centers has announced that it has increased its existing sustainability-linked (SLL) from $375 million to $1.75 billion in an effort to “accelerate its next phase of strategic growth and expansion.” This loan is linked to ESG goals, and if the company manages to reach the pre-agreed targets, it will gain access to lower repayments. Back in 2020, the data center company became the first in the industry to receive a sustainability-linked loan.
Alongside previous loans, the first in 2020 for $1 billion, a further $250 million in July 2021, another $375 million sustainability-linked loans in August 2021, and $1.35 billion in securitized notes issued under a new sustainability framework, the latest announcement brings the company’s total to $4 billion.
Speaking about this development, Anubhav Raj, CFO, Aligned.“Aligned’s latest increase to its sustainability-linked financing is a testament not only to the recognition of our relationship banks and financial institutions of the precipitous demand for digital infrastructure and services, but also of the singular demand for Aligned’s adaptive data center platform, which provides a sustainable and dynamic solution to the needs of high-growth, high-capacity customers. "
Adding: “Green financing is an embedded element of Aligned’s industry-leading commitment to data center sustainability and environmental stewardship, and further supports our ability to innovate disruptively in pursuit of a climate-secure industry, and world.”
Meanwhile, Andrew Schaap, CEO of Aligned, commented: “Our sophisticated customers require highly dynamic and massively scalable data center solutions that can be delivered at speed, anywhere their business growth demands, while simultaneously bolstering their environmental commitments and paths to net-zero carbon. We’re deeply gratified that leading financial institutions continue to support our objective to be the data center industry’s leading change agent for sustainability by providing access to, and increasing, our sustainability-linked financing to deliver on that mission.”
