Irish developer Echelon Data Centres has secured a new tranche of financing to fuel its build-out.
The Starwood-backed firm this week announced the successful closing of an initial €1.7 billion ($1.97bn) loan financing provided by Morgan Stanley.
The financing will help the company continue its planned expansion across Europe.
Founded in 2016, Echelon now has eight campuses in its pipeline across Europe, totaling 1.2GW of capacity. Some 400MW is operational or under development. The firm has sites across Ireland, the UK, Spain, and Italy.
Charlie Etheridge, head of investments at Echelon Data Centres, said: “This €1.7 billion 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. We are pleased to continue our valued partnership with Morgan Stanley as we advance the next phase of our European expansion.”
Echelon was advised by A&O Shearman and Arthur Cox.
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