US company DataBank has raised $2bn to spend on installing additional generating capacity for its fleet of data centres.
The company intends to add 850MW to meet demand, which is being driven by AI, hyperscale computing in the cloud and large technology workloads.
The money will finance three of DataBank’s previously announced projects, the largest of which will be used to build a 480MW campus on a 292-acre site in Red Oak, northeast Texas. This will consist of Eight two-storey centres measuring 425,000 sq ft each. It is due to become operational in 2026.
A data centre will also be built on 85-acres of land in Culpeper, Virginia, and also on 95-acres near Lithia Springs in Atlanta.
Some $1.5bn of financing has come from AustralianSuper, Australia’s largest superannuation fund, who will become a minority owner of DataBank and will join the board of directors.
Another $483m has been raised from DataBank’s existing investors.
Databank has raised $4bn in debt and equity over the past 12 months.
Raul Martynek, DataBank’s chief executive, said: “This investment, and our new campuses, are a game-changer for DataBank and our customers, allowing us to bring this capacity to market now and seize the incredible opportunity ahead of us.”
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