Colorado-based company, Vantage Data Centers, recognized for their specialization in vast-scale data center campuses, recently shared that it has secured a loan worth $64 million from two banks in Taiwan. The financial institutions involved in helping stage the data center in Taipei, Taiwan, are CTBC Bank and Cathay United Bank.
Notably, this marks the inception of the first financial transaction for a hyperscale data center on Taiwanese soil. It’s also the pioneer collaboration between Vantage and Cathay United, but CTBC already marks their third global engagement with the former. The establishment of a greenfield data center project in Taiwan is a pathbreaking move, and Vantage is thrilled to lead the way into this groundbreaking era.
Setting foot in Taiwan isn’t a random move by Vantage Data Centers. The company disclosed its plan to set up a data center in Taipei last December. As per the plan, the data center should open its gates in the following summer. It will provide 16MW IT capacity in its 215,000 square foot facility. Their projection of services includes hyperscalers, cloud providers, and large enterprises, all catering to transform Taiwan into a critical infrastructure hub in the digital world.
“Vantage’s data center platform has always been held in high regard by CTBC Bank, and we are glad to welcome Cathay United Bank aboard in pioneering this financial milestone,” as put forth by Joel Cheah, Vantage’s CFO in the Asia-Pacific. He reinforces the importance of the investment which aids the expansion of Taiwan as a regional data center market.
What does this deal mean for the Taipei data center market? As anticipated by Vantage, the market in Taipei will witness an overwhelming spike, doubling from $1.42 billion in 2022 to $3.21 billion by 2028. The boom is a clear result of cloud service adoption and increasing demand for artificial intelligence.
Vantage raised an impressive $10 billion in additional debt and equity throughout 2023. This significant growth spurt was spurred by the increasing demand for data centers by world-class hyperscalers. “We ventured into thriving, high-demand data center markets in 2023 to cater to our customer’s needs as AI and other groundbreaking technologies advance,” affirmed Sureel Choksi, president and CEO of Vantage Data Centers.
