Blackstone’s credit and insurance business has provided Aligned Data Centers with an initial $600m (€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’s SLC-03 data centre in Utah.

SLC-03, Aligned’s newest and largest data centre, is a two-storey, 80MW build-to-suit project on the firm’s hyperscale campus in West Jordan, which now houses three facilities.

Blackstone said the credit facility is committed entirely via insurance accounts managed by BXCI’s infrastructure and asset-based credit division.

Robert Horn, the global head of infrastructure and asset-based credit at BXCI, said: “We 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.”

Alan Carcich, a principal in the infrastructure and asset-based credit business at BXCI, said: “Aligned is one of the fastest growing data centre platforms in the Americas and has a focus on sustainability – we look forward to working with the Aligned team to support their continued growth.”

Anubhav Raj, CFO at Aligned Data Centers, said: “Blackstone’s support contributes to Aligned’s continued growth in meeting the capacity demands of customers across the globe.

“The 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.”

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