Nuveen Invests in Data Center Developer CleanArc
Nuveen, the investment manager of TIAA, has made a strategic investment in CleanArc Data Centers, a developer of renewables-focused hyperscale data center campuses. With Nuveen overseeing $1.3 trillion in assets, this partnership aims to fuel CleanArc’s ambitious expansion plans.
The investment will accelerate the development of CleanArc’s flagship 300 MW data center campus in Virginia, set to be operational by Q1 2027. The site will receive two 300 MW transformers in late 2026, marking one of the largest 2N power deliveries for a data center campus in Virginia’s global cluster. Construction is slated to begin in Q2 2025.
“Nuveen is focused on expanding its investment in digital infrastructure, and CleanArc stood out for its strong leadership, commercial traction and commitment to sustainability,” said Isela Bahena, managing director, Nuveen Infrastructure. “As CleanArc continues to scale, we believe it’s well positioned to play a defining role in the future of data center development.”
Nuveen, a strategic investor in Snowhawk and a global leader in infrastructure asset management, is deepening its digital infrastructure portfolio through this investment, driven by CleanArc’s leadership, commercial momentum, and sustainability focus.
Snowhawk remains CleanArc’s majority stakeholder, with Nuveen and Townsend Group joining as minority partners to support its growth.