Irish-headquartered data centre infrastructure company Echelon Data Centres has closed a €1.7 billion loan financing to help support its continued European expansion.
The company, which develops and operates large-scale data centre infrastructure, said the financing was provided by Morgan Stanley.
“This €1.7 billion financing strengthens our capital position and provides the flexibility to execute on our pipeline at scale and at pace,” said Charlie Etheridge, head of investments at Echelon Data Centres.
“It reflects the quality of our platform and the strong institutional support behind our strategy. We are pleased to continue our valued partnership with Morgan Stanley as we advance the next phase of our European expansion.”
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The financial support will allow Echelon to grow its development pipeline, invest in enabling power infrastructure and expand its campus portfolio across Ireland, the UK, Spain and Italy. It currently has eight campuses across Europe, with a total capacity of 1.2GW.
That includes a €500 million facility in Arklow, Co Wicklow, that was granted planning permission in 2019 but did not get permission for a grid connection until 2024.
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David Smith, deputy chief executive of Echelon Data Centres, said Ireland was one of Europe’s most important and supply-constrained data centre markets.
“Over the past 15 months, we have expanded into Spain – in joint venture with Europe’s largest utility, Iberdrola – and into Italy, extending our development model into new strategic markets,” he said.
“We are incredibly proud of the growth Echelon has achieved over the past several years and excited for the opportunity ahead. Demand for digital infrastructure across Europe is substantial and long term, and our ambition is to continue expanding our platform to support the growth of our customers in key strategic markets.”
Echelon was founded by businessman Niall Molloy, who is also managing director of property group Aldgate Developments. US investment firm Starwood Capital took a 50 per cent stake in Echelon in 2024, following an investment of €850 million in the company.
