Asia Pacific data center operator Princeton Digital Group (PDG) has secured a green loan to fund the build-out of its campus in Johor, Malaysia
The company this week announced it has secured its first RM1.276 billion ($280 million) green loan for its 150MW JH1 campus in Sedenak Tech Park (STeP) in Johor.
The financing is for the first 52MW phase of JH1, which is on track to be ready for service in June 2024 and will be completed within 12 months from the start of construction.
“JH1, and this financing by top banks, are evidence of how PDG is solving for sustainability while building at scale for AI,” said Rangu Salgame, chairman, CEO and co-founder of PDG.
The loan is being provided by three banks; Maybank, Standard Chartered Bank and UOB Malaysia, who acted as Joint Green Loan Coordinators.
PDG first announced it had acquired 31 acres of land from JLand Group (JLG) to develop a 150MW campus in Sedenak Tech Park (SteP) in May 2023. The company said the 150MW project will see a total of $1.5 billion invested. The company broke ground 19 on the project in October 2023 for a Q2 2024 completion.
The financing is PDG’s first green loan aligned with the company’s green finance framework
PDG was set up with the help of Warburg Pincus in 2017 and operates data centers in China, Singapore, India, Indonesia, Malaysia, and Japan.
Sustainability-linked financing is becoming an increasingly popular way for data center developers to raise funds for projects.
