Stack Infrastructure has secured more than $1 billion in financing to expand its data center portfolio.
The IPI-owned company this week announced a cumulative fundraising of $1.3bn for development across its global portfolio.
The financing, which includes green construction debt refinancing, will further Stack’s global footprint of shell and turnkey campuses. To date, the company has secured more than $12bn in financing.
"This series of financing not only emphasizes our commitment to sustainable practices but also highlights our strategic vision and leadership in the industry," said Preet Gona, CEO, Stack APAC. “Persistence in securing capital for responsible expansion strengthens ongoing investor and client confidence in Stack’s capabilities across key global markets."
A large portion of the funds will go towards developments in Virginia. $350 million in green financing is to be used for the expansion of a 150MW campus located in Manassas; $301m in green funds will support further development of a 200MW campus in Loudoun County; and $100m will be used to refinance construction debt, strengthening the financial position for a 420MW campus in Prince William County.
$506m in green financing will be allocated to expand Stack’s footprint in the APAC region, including a 180MW campus in Melbourne, Australia, which will include an on-site solar array.
In Europe, $60m in construction financing will support the expansion of a site in Milan, Italy to 25MW.
The new financing comes after the company secured $3.3 billion in green financing in April for data center developments across California, Milan, and Loudoun County.
DCD reported in March that Stack had received $240m in green securitized notes and had accumulatively raised $2.83bn in notes. 2023 saw Stack issue $290m in securitized notes in November, $250m in August, and $250m in March.
Stack’s data center portfolio includes 4GW built or under development and an additional 2.5GW of planned and potential expansion. The company has sites across 24 markets, including Stockholm, Sweden; Zurich, Switzerland; Osaka, Japan; Canberra, Australia; and Seoul, South Korea.
