Echelon secures €1.7bn financing.
€1.7 Billion Secured to Power Our Next Phase of European Growth
Irish-headquartered Echelon Data Centres has secured €1.7 billion in loan financing to accelerate its expansion across Europe.
The large-scale data centre developer and operator confirmed that the funding was provided by Morgan Stanley, strengthening its capital base as it advances projects in multiple markets.
Charlie Etheridge, head of investments at Echelon, said the financing enhances the company’s ability to deliver on its growing development pipeline.
“This €1.7 billion facility reinforces our capital position and gives us the flexibility to execute our projects at scale and at pace,” he said. “It reflects the strength of our platform and the continued institutional confidence in our strategy. We are pleased to build on our partnership with Morgan Stanley as we move into the next phase of European growth.”
The funding will support expansion of Echelon’s development pipeline, investment in enabling power infrastructure and the continued build-out of its campus portfolio in Ireland, the UK, Spain and Italy. The company currently operates eight campuses across Europe with a combined capacity of 1.2 gigawatts.
Among its key Irish projects is a €500 million data centre campus in Arklow, Co Wicklow. While the development received planning approval in 2019, it secured a grid connection only in 2024, highlighting the supply constraints facing the Irish market.
Deputy chief executive David Smith described Ireland as one of Europe’s most strategically important — and capacity-constrained — data centre markets. He noted that over the past 15 months Echelon has expanded into Spain through a joint venture with utility giant Iberdrola, as well as entering the Italian market.
“Demand for digital infrastructure across Europe remains strong and long term,” Smith said. “We are proud of the progress we’ve made and remain focused on expanding our platform to support customers in key strategic markets.”
Echelon was founded by businessman Niall Molloy, who also leads property group Aldgate Developments. In 2024, US investment firm Starwood Capital acquired a 50% stake in the company following an €850 million investment.
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