October 28, 2025
European data center operator AtlasEdge has announced the successful procurement of a €253 million ($294.8 million) green financing package to fund the significant expansion of its campus in Lisbon.
The seven-year senior secured Term Bond facility will be directed towards the construction of the second and third buildings, LIS002 and LIS003, at the company's new campus in Carnaxide. This expansion is part of a broader €500 million ($582 million) investment designed to establish a 30MW data center hub in the Portuguese capital.
The financing is structured in two tranches: €63 million ($73.4 million) is allocated for the construction of LIS001, which launched this week, and a further €190 million ($221 million) facility will finance LIS002. The newly launched LIS001 has its capacity already contracted by "top-tier customers" and is scheduled to be operational by the end of 2025.
Banco Santander and ING acted as joint bookrunners on the deal, with ING also serving as the Sole Sustainability Coordinator. Additional lenders also participated in the facility.
"This innovative green financing provides the flexibility to scale the Lisbon campus, building on the successful launch of LIS001," said Sicco Boomsma, Managing Director, EMEA at ING. "ING’s appetite for the data center sector is stronger than ever, and we are proud to support AtlasEdge’s impressive expansion plans."
The LIS002 facility is currently in the master planning phase, with a target ready-for-service date of 2028. AtlasEdge has also acquired an adjacent 10,000 square-meter plot of land to host the campus's third data center, LIS003.
Tesh Durvasula, CEO of AtlasEdge, stated that the financing and expansion underscore the company's momentum in the Iberian Peninsula. "This is a sustainable, strategically located campus and a game-changer for customers operating in the Portuguese market," Durvasula said.
Robert Drew, Managing Director and Head of TMT Global Banking, UK, at Banco Santander, added, "This transaction underlines our commitment to digital infrastructure and sustainable development in Portugal, strengthening Lisbon’s role as a regional connectivity hub."
Legal and advisory services for the transaction were provided by Ropes & Gray International LLP for AtlasEdge, while Norton Rose Fulbright LLP, Analysys Mason, Haskoning, and BDO LLP advised the lenders.
AtlasEdge, a joint venture formed in 2021 by Liberty Global and DigitalBridge, has been rapidly expanding its European footprint with acquisitions and new developments in markets including the UK, Germany, Switzerland, and Austria.
SOURCE DCD
