CAI Invests In Sustainable Data Center Provider Switch, Partners With DigitalBridge
May 10, 2023 by Joe Panettieri
Climate Adaptive Infrastructure (CAI), through a relationship with DigitalBridge, plans to invest up to $300 million in sustainable digital infrastructure. The first investment involves Switch, a 100% renewable-powered data center provider. Financial details about the Switch investment were not disclosed.
CAI, founded in 2019, is based in San Francisco, California. The infrastructure investment firm raised more than $1 billion in 2022 for a fund that targets low-carbon real assets in the energy, water and urban infrastructure sectors. Key CAI investments include hydroelectric firm Rye Development and solar and storage specialist Intersect Power.
Now, that investment focus is expanding to sustainable data center companies.
DigitalBridge, founded in 2013, is based in Boca Raton, Florida. The global digital infrastructure firm typical invests in cell towers, data centers, fiber, small cells, and edge infrastructure. DigitalBridge manages a $69 billion portfolio of digital infrastructure assets.
In a prepared statement about the CAI-DigitalBridge business relationship, CAI Managing Partner Bill Green said: “The DigitalBridge team is broadly recognized for their success in the sector and, through this initiative, continues to demonstrate forward thinking around further decarbonizing their ecosystem. We are excited to be launching this innovative partnership with DigitalBridge.””
Added DigitalBridge CEO Marc Ganzi: “We are pleased to partner with Bill and the entire CAI team to accelerate DigitalBridge’s path towards a more sustainable digital infrastructure ecosystem."
Additional Sustainable Data Center Investments, Milestones
Meanwhile, data center providers worldwide are pursing net zero and sustainable energy strategies. Cloud-scale players such as Amazon Web Services (AWS), Google Cloud and Microsoft Azure each have made major sustainability commitments.
Regional data center providers are also making moves. A few examples:
Europe: AQ Compute and CBRE in 2022 partnered as part of a push to make AQ Compute a "pan-European leader in providing global clients with data centre services." All of the AQ Compute data centers are expected to leverage 100 % renewable energy, the companies said.