EdgeCore secures $1.5B toward Sterling data centers construction

Denver-based EdgeCore Digital Infrastructure announced Tuesday it has secured $1.5 billion in debt financing to fund the construction of two new hyperscale data centers in Sterling, Loudoun County, Virginia. These facilities, located about 2 miles apart, will encompass 685,000 square feet and are designed to support a cumulative 114 megawatts of critical load upon full buildout. Both data centers are already fully leased, with the first building (AS01) expected to be occupied by November 2026 and the second (AS02) by July 2027. Fentress Boyse, a member of management for the Infrastructure Americas group of EdgeCore's owner, Partners Group, highlighted the strategic importance of developing these assets in Virginia, one of the world's largest data center markets, aligning with EdgeCore's expansion plans. The company has a significant presence in the market, with 1.8 gigawatts of capacity delivered or under development across approximately 7 million square feet this year. EdgeCore is also undertaking other major projects in Virginia, including a $17 billion campus in Louisa County and a 1.4 million-square-foot campus in Culpeper, with construction already underway at both sites. The $1.5 billion financing for the Sterling projects was arranged through two limited-resource senior secured term loans, with transactions led by Apterra Infrastructure Capital, Global Infrastructure Partners (owned by BlackRock), and ING Capital. Notably, the AS01 loan was structured as a green loan, adhering to environmentally sustainable economic activity principles, with ING Capital serving as the sole green loan structuring agent. Dominion Energy will provide power for the Sterling data centers.