Stack Infrastructure has secured $4 billion in green financing to fund data centers in the US and Canada.
The cash will be used to develop the company’s planned 1GW campus in Stafford, Virginia, as well as additional campuses in Portland, Oregon, and Toronto, Canada.
Details of who has provided the funding have not been revealed. Green financing typically refers to investment in projects that will deliver environmental benefits - with repayments tied to specific sustainability goals.
"Stack’s footprint in Virginia reflects our ability to support our clients’ growth in the most integral data center market in the world," said Matt VanderZanden, president of Stack Americas. "With strong access to capital and a proven record of delivering at the highest level, we remain committed to providing strategic digital infrastructure solutions across the globe."
Announced in January, the Stafford Technology Campus will be built on a 500-acre site on the east side of US Route 1 at I-95.
It will house up to 19 data centers and six 300MW substations from Dominion Energy. VanderZanden said when the site was launched that his company is committed to “meaningful economic and environmental benefits, fostering long-term partnerships and sustainable growth,” but did not go into further detail about sustainability measures planned for the campus. DCD has contacted Stack for more information.
Stack already has three data centers in the Hillsboro area of Portland. Its website says it has plans to expand two of these, adding an additional 12MW to its POR01 facility, and 150MW to its POR03 campus.
It launched a data center in Toronto in 2023, with 8MW available. This could eventually grow to 48MW.
In total, Stack has approximately 4GW in operation or development globally, with another 6GW planned in the future. Its data centers are spread across the US and around the world.
