Scala Data Centers has issued $250 million in green debentures to fund its São Paulo, Brazil, data center.
The funding has a six-year maturity period, and will be used to complete the company's 36MW data center building within its Tamboré Campus in São Paulo.
The data center, dubbed SGRUTB09, is already in an advanced stage of construction and is said to be part of a campus that is the "largest of its kind" in Latin America. In total, the facility has seen $350 million in investment, with the remaining capital coming from Scala and its investors.
SGRUTB09 is currently expected to launch in the second half of 2025, and will be fully occupied by a single hyperscale customer in the cloud and content sector.
The facility will be designed to meet the needs of cloud and artificial intelligence workloads, and will operate with a PUE below 1.3 and a WUE of zero.
This is the company's fourth debenture issuance, and third green debenture. The three green raises total $803 million.
This latest raise was led by Bradesco BBI, alongside coordinating banks UBS BB, Santander, and Itaú BBA, and was carried out in Brazilian Reais with a US dollar swap.
Clayton Malheiros, Scala's CFO, said: "We are operating in a growing market with extraordinary growth potential, but still relatively unexplored by the financial sector. Our effort has been to demonstrate how the data center sector works and highlight Scala's exceptional position as a leader in this growth in Latin America.
"This approach has attracted increasing interest from banks that previously did not participate but now recognize the value and potential of our projects."
Earlier this month, Scala announced the launch of the second phase of the Tamboré campus, including operations of two new buildings, and the construction of three more totaling 158MW of IT and a committed investment of R$6.2 billion (US$1.3bn). At full build-out, the campus is expected to have 17 buildings and three substations, totaling 600MW.
Combined with the amount already invested in Phase 1, Scala has invested more than R$10bn (US$1.8bn) in this campus.