QUÉBEC, July 24,
2024 /CNW/ - CDPQ, a global investment group,
today announced an agreement to provide USD
75 million (CAD 103 million)
as part of a senior financing to Vantage Data Centers, a leading
global provider of hyperscale data centers1, to support
the expansion of its Québec City Data Center Campus, QC2. This
new investment will finance the construction of the third facility
on the four-building campus and will deliver an additional 16MW of
IT capacity to serve increasing demand for cloud services across
Québec and Eastern Canada. The
total USD 130 million (CAD 179 million) credit facility was structured
and underwritten by Societe Generale.
Strategically located in Québec's National Capital region, the
hyperscale data center is currently under construction by Pomerleau
Inc., one of Canada's leading
construction companies. Once fully developed, the
925,000-square-foot (86 000-square-metre) Québec City Data
Center Campus will generate 86MW of total combined IT capacity, and
deliver reliable and efficient high computing power to Vantage's
global top-tier customers.
"The surge in data-intensive technologies and cloud service
adoption is reshaping the North American digital infrastructure
market. Vantage Data Centers is in a leading position to seize this
opportunity due to its vast experience in data center buildout and
operations, and longstanding customer relationships," said
Marc Cormier, Executive Vice-President and Head of Fixed
Income, CDPQ. "This new investment in Vantage leverages CDPQ's
global experience in financing critical digital infrastructure to
support the delivery of this important local project."
"CDPQ's investment will play a crucial role in our expansion in
Québec City and in fueling our capacity to deliver high-quality
digital infrastructure in the region," said Maxime Guévin, Senior
Vice-President and General Manager of Canada, Vantage Data Centers. "We're excited
to complete this facility in the Spring of 2025, and to deepen our
partnership with CDPQ to meet the growing demand for advanced cloud
services in Eastern Canada."
"We are pleased to partner with CDPQ and to provide a tailored
financing solution to support this expansion by Vantage Data
Centers in Québec", said Valtin
Gallani, Head of Digital Infrastructure Finance and
Advisory, Societe Generale.
|
_________________________________
1Hyperscale data centers are typically leased to
organizations that operate massive-scale cloud and AI
infrastructure to support their business operations.
|
CDPQ's growing footprint in financing digital
infrastructure
In addition to this investment in Vantage Data Centers' Québec
City campus, earlier this year, CDPQ invested in Vantage Data
Center's EMEA platform serving key markets in Europe and participated in the USD 7.5-billion debt financing facility to
support the growth of AI hyperscaler CoreWeave.
ABOUT CDPQ
At CDPQ, we invest constructively to generate sustainable
returns over the long term. As a global investment group managing
funds for public pension and insurance plans, we work alongside our
partners to build enterprises that drive performance and progress.
We are active in the major financial markets, private equity,
infrastructure, real estate and private debt. As at December 31, 2023, CDPQ's net assets totalled
CAD 434 billion. For more information, visit cdpq.com,
consult our LinkedIn or Instagram pages, or follow us on X.
CDPQ is a registered trademark owned by Caisse de dépôt et
placement du Québec and licensed for use by its
subsidiaries.
For more information
MEDIA RELATIONS TEAM
+ 1 514 847-5493
medias@cdpq.com
SOURCE CDPQ