Teraco to Expand Data Centers With $680 Million in Debt Funding [BNN Bloomberg (Canada)]
ABSA GROUP LTD S/ADR (AGRPY)
NASDAQ:AMEX Investor Relations:
absa.co.za/about-us/absa-bank/investor-relations
Company Research
Source: BNN Bloomberg
its expansion plans and power build-out, said its Chief Financial Officer Samuel Erwin. Just under half of the loan financing, which was led by South Africa-based lender Absa Group Ltd., will be used as growth capital to build out the company's solar capacity and data centers, Erwin said. The rest will be used to refinance its current facilities, which are spread across Johannesburg, Cape Town and Durban. “We have set a target to generate half of our power from clean energy sources by 2027, and all of it by 2035,” Erwin said. In an effort to meet that target, the company will build a utility-scale solar farm capable of generating 100 megawatts of power and is adding solar panels to the roofs of its data centers, he added. South Africa has struggled with crippling power cuts in recent years and many of the country's largest businesses have started to build facilities to generate their own power. Data centers are generally high power users and shifting to renewable energy source
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