Aligned Energy has received a $495m loan from Goldman Sachs, CPPIB Credit Investments, and a third unnamed investor.

The Texas-based data center provider did not say under what conditions it was borrowing the money but said it was flexible, and low cost.

The financing may be used for its expansions in Dallas, Phoenix, Salt Lake City and Aligned’s most recent project, the 26-acre hyperscale campus in Ashburn, Virginia.

Anubhav Raj, CFO of Aligned Energy, said: “We’re very pleased with the results of this transaction and look forward to working with our capital partners to support the next phase of growth at Aligned.”

Not the first time

Aligned has taken out large loans before to fund its expansions.

Only last year, the data center provider secured a line of credit with Goldman Sachs for $375m. This loan can be extended at any time until October 2023.

All in all, the company has taken out a total of $870m over the past two years.

Ideal location

Aligned completed the first phase of its hyperscale campus in September. Building the initial 370,000 sq ft (34,000 sq m). The facility is to be followed by a further 410,000 sq ft (38,000 sq m) development.

Company CEO Andrew Schaap said: “Aligned Ashburn is among the fastest building permit to commissioning construction projects… delivering critical capacity in record time to meet the growing need for high-density, highly efficient and scalable colocation solutions in Ashburn.”

The company says it is building the facility to capitalize on the state's cheap and reliable power, dense fiber networks offering low-latency connections to networks and the substantial number of colocation and cloud providers.