DataVolt Bets Big on Saudi Data Centre Expansion With New Funding Plan

DataVolt expects to secure financing for its Saudi data centre projects within six months using a non-recourse funding model. The move supports the company's expansion plans and aligns with Saudi Arabia's broader push to strengthen digital infrastructure under Vision 2030.
DataVolt Bets Big on Saudi Data Centre Expansion With New Funding Plan
Written By:
Soham Halder
Reviewed By:
Aishwarya Avsk
Published on

Saudi data centre developer DataVolt expects to secure financing for all of its data centre projects currently under construction in the Kingdom within the next six months, marking a key step in its expansion strategy. The company plans to use a non-recourse financing model, where loans are repaid through the cash flow generated by individual facilities rather than the parent company's balance sheet. The approach is expected to support large-scale infrastructure development while reducing financial risk as Saudi Arabia accelerates investments in digital infrastructure.

Infrastructure Projects Backed by Long-Term Growth Plans

DataVolt's Saudi pipeline is anchored by a 1.5GW data centre campus at Oxagon, part of NEOM, alongside another major facility under development in Riyadh. The Oxagon project forms part of the company's $5 billion investment commitment announced in 2025, with the first phase expected to become operational by 2028. While the company has not disclosed the total financing requirement for its Saudi projects, executives said discussions with lenders are progressing as planned.

Chief executive Rajit Nanda told AGBI that financing for the facilities now under construction in Saudi Arabia should be secured in the same format over the next six months, signalling that the company is trying to turn a novel digital asset into something lenders can underwrite like power or water infrastructure.

Project Finance Model Gains Momentum

The financing structure follows a successful precedent established in Uzbekistan, where DataVolt recently secured up to $150 million in 12-year non-recourse debt for its TAS-1 data centre project. The funding attracted support from international institutions, including the European Bank for Reconstruction and Development (EBRD), DEG, Proparco, and the OPEC Fund. Nanda said the model converts large upfront capital expenditure into predictable operating costs, making projects more attractive to customers while offering lenders a familiar infrastructure financing framework.

Also Read: Middle East Emerges as a Global Powerhouse in the Rapid AI Data Centre Race

Saudi Arabia’s Digital Infrastructure Push

DataVolt's financing efforts come as Saudi Arabia continues to position itself as a regional hub for advanced computing and digital infrastructure under its Vision 2030 strategy. Growing demand for cloud services and high-performance computing has increased investment in modern data centres across the Kingdom. 

Analysts believe successfully financing these projects could encourage more infrastructure-focused lending in the sector and accelerate future developments. For investors and industry observers, the progress of DataVolt's funding strategy will be closely watched as a measure of confidence in Saudi Arabia's rapidly expanding technology ecosystem.

DataVolt is owned by Vision Invest, a Saudi investor with interests in public-private infrastructure across power, water and district cooling, areas where project finance is already well understood. The company is chaired by Paddy Padmanathan, the former chief executive of Saudi utility developer Acwa Power.

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