Irish-headquartered Echelon Data Centre has secured a €1.7bn (£1.48bn) loan from Morgan Stanley to support its expansion across Europe.
The new facility will allow Echelon to expand its portfolio across Ireland, the UK, Spain and Italy.
It currently has eight campuses totalling 1.2 GW of capacity, of which 400MW is operational or under development. While most of its portfolio is located in Dublin and London, over the past 15 month it has expanded into Spain, in a joint venture with Iberdrola, and Italy.
David Smith, deputy chief executive of Echelon Data Centres, said: “Ireland is one of Europe’s most important and supply-constrained data centre markets and we have established a leading position [there] by delivering large campus developments supported by innovative power solutions, in partnership with customers, regulators and grid stakeholders.”
Charlie Etheridge, head of investments at Echelon Data Centres, added: “This €1.7bn financing strengthens our capital position and provides the flexibility to execute on our pipeline at scale and at pace. It reflects the quality of our platform and the strong institutional support behind our strategy.”
Echelon was advised by A&O Shearman and Arthur Cox.
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