Blackstone鈥檚 credit and insurance business has provided Aligned Data Centers with an initial $600m (鈧�549m) in financing to help develop a data centre in western US.
Blackstone Credit & Insurance (BXCI), which focuses on providing private credit to the renewable energy, infrastructure and energy-transition sectors, has provided the senior secured credit facility to support the development of Aligned鈥檚 SLC-03 data centre in Utah.
SLC-03, Aligned鈥檚 newest and largest data centre, is a two-storey, 80MW build-to-suit project on the firm鈥檚 hyperscale campus in West Jordan, which now houses three facilities.
Blackstone said the credit facility is committed entirely via insurance accounts managed by BXCI鈥檚 infrastructure and asset-based credit division.
Robert Horn, the global head of infrastructure and asset-based credit at BXCI, said: 鈥淲e are thrilled to partner with Aligned and this partnership highlights our ability to support large-scale digital infrastructure build-out with flexible and efficient financing solutions.鈥�
Alan Carcich, a principal in the infrastructure and asset-based credit business at BXCI, said: 鈥淎ligned is one of the fastest growing data centre platforms in the Americas and has a focus on sustainability 鈥� we look forward to working with the Aligned team to support their continued growth.鈥�
Anubhav Raj, CFO at Aligned Data Centers, said: 鈥淏lackstone鈥檚 support contributes to Aligned鈥檚 continued growth in meeting the capacity demands of customers across the globe.
鈥淭he capital demands of this industry make strong financial backing crucial. Strategic financing partnerships focused on ingenuity and collaboration are a key advantage. We are excited to embark on this initial transaction and build on future opportunities with Blackstone.鈥�
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