Odaily Planet Daily report: EdgeConneX Inc., a data center operator backed by EQT, is seeking bank-backed power cost guarantees of up to $2.5 billion to support its global data center expansion plan. EdgeConneX is in discussions with several banks, including France’s Natixis and Spain’s BBVA, on a letter of credit financing arrangement that will help the company lock in power supply costs for its data center projects.
As demand for AI training and inference grows rapidly, global data center construction is entering an accelerated phase, and operators are exploring new financing tools to address rising electricity procurement costs and infrastructure investment needs.
EdgeConneX’s pursuit of bank support reflects how AI infrastructure companies are shifting from traditional real estate and equipment financing models toward new financing structures built around energy supply and long-term power contracts.
In recent years, major cloud computing companies and AI infrastructure firms have significantly increased their investments in data centers, with power supply becoming a critical bottleneck to the expansion of AI computing power. Securing future electricity costs through bank credit support has emerged as a new way for data center operators to obtain funding for expansion. (Bloomberg)