Asia Pacific data center operator, Princeton Digital Group (PDG), has successfully obtained a green loan to support the development of its campus in Johor, Malaysia.
In an announcement this week, the company disclosed securing its initial RM1.276 billion ($280 million) green loan to finance its 150MW JH1 campus situated in Sedenak Tech Park (STeP) in Johor.
The funding is designated for the first phase of JH1, encompassing 52MW, which is projected to be operational by June 2024 and scheduled for completion within 12 months from the commencement of construction.
Rangu Salgame, Chairman, CEO, and Co-Founder of PDG, stated, “JH1, along with this financing from top banks, demonstrates PDG’s commitment to sustainability while expanding its operations for AI initiatives.”
The green loan is being extended by three prominent banks: Maybank, Standard Chartered Bank, and UOB Malaysia, serving as Joint Green Loan Coordinators for the transaction.
PDG’s acquisition of 31 acres of land from JLand Group (JLG) in May 2023 marked the beginning of the development of the 150MW campus in Sedenak Tech Park (STeP), with a projected total investment of $1.5 billion. Groundbreaking for the project took place in October 2023, with an anticipated completion in Q2 2024.
This financing initiative represents PDG’s inaugural green loan that aligns with the company’s green finance framework.
Established with the backing of Warburg Pincus in 2017, PDG currently operates data centers across various countries in the Asia Pacific region, including China, Singapore, India, Indonesia, Malaysia, and Japan.